The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has again voted to retain the monetary policy rate at 11.5 percent.

The announcement was made by the CBN governor, GODWIN EMEFIELE during a press briefing at the CBN headquarters in Abuja, the nation’s capital.

GODWIN EMEFIELE speaking further on the decision of the MPC at the end of the two-day rates decision meeting said the committee voted to leave the Cash Reserve Ratio at 27.5 percent, and Liquidity Ratio at 30 percent.

He explained that the move is expected to allow further economic growth, after the country exited recession in the fourth quarter of 2020, amid rising inflation.

The MPC also lamented the effect of insecurity on the nation’s economy and called on the Federal Government to handle insecurity immediately to successfully tackle inflation.