The Central Bank’s Monetary Policy Committee meeting which began on Monday, 21st November, 2016 has ended on Tuesday, November 22 with all key indicators retained.

Briefing journalists about the outcome of the meeting, CBN Governor, Godwin Emefiele explained that the committee agreed to keep the Monetary Policy Rate at 14 per cent, the Cash Reserve Ratio at 22.50 per cent and the Liquidity Ratio at 30 per cent.

According to Emefiele, Asymmetry Corridor is maintained at 200 and -500 basis point, confirming Analysts’ consensus which projected that the committee was not likely to announce any policy changes.

The financial markets also looked forward to the regulator’s assessment on the impact of monetary tightening and the flexible forex policy on foreign inflows into the economy.

In a statement, the regulator said that it remained committed to safeguarding the international value of the country’s legal tender, adding that the plans of a 20% fine for any holder and confiscation of funds in domiciliary accounts of individuals is not true.