The CBN Governor, Godwin Emefiele, also reiterated that the bank will increase its foreign exchange interventions by making sure that there is no shortage of forex for business transactions in the country.
The Monetary Policy Committee, MPC, of the Central Bank of Nigeria, CBN, has voted to retain interest rates in the country at 14%, despite calls from experts and economic managers, including the Minister of Finance, Kemi Adeosun, for a downward review.
The Central Bank of Nigeria, CBN, has decided to retain benchmark interest rate at 14%, saying that monetary policies alone could not totally save the economy.
Experts in the manufacturing sector have expressed support for the Minister of Finance, Kemi Adeosun's call on the Central Bank of Nigeria, CBN, to lower interest rate so that government can borrow domestically to boost the economy without increasing debt servicing costs.
