The Central Bank of Nigeria (CBN’s) Monetary Policy Committee has maintained its key lending rate at 11.5 per cent, also leaving other parameters unchanged.

CBN Governor, Godwin Emefiele announced this on Tuesday during a live broadcast of the MPC Decision Day.

Other parameters left unchanged are the Cash Reserve Ratio and Liquidity Ratio at 27.5 per cent and 30 per cent respectively.

Announcing the committee’s decision, Emefiele said, “The MPC believes that the existing parameters have supported the growth recovery and should be allowed to continue for a little longer for consolidation to achieve the committee’s mandate of price stability conducive for growth.

He noted that the Committee believed that tightening or losing the rates at this time would be unfavourable to the country’s economic recovery.