The Central Bank of Nigeria (CBN) has reduced its Monetary Policy Rate to 12.5 per cent.
The CBN Governor, Mr Godwin Emefiele made the announcement in Abuja on Thursday.
He said the CBN Monetary Policy Committee reached the decision to reduce the rate at the end of its 273rd meeting.
The committee had retained the MPR at 13.5 per cent at the last MPC meeting in March.
It, however, retained the Cash Reserve Ratio and the liquidity ratio at 27.5 per cent and 30 per cent respectively.
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