CBN Benchmark interest rate reduced from 13 to 11% - Governor

The bank's monetary policy committee had also decided to cut the cash reserve ratio from 25 percent to 20 percent, the CBN governor said

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Central Bank of Nigeria (CBN) play

Central Bank of Nigeria (CBN)

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Nigeria's central bank cut its benchmark interest rate from 13 percent to 11 percent on Tuesday, governor Godwin Emefiele said.

Central Bank Governor Godwin Emefiele speaks at the monthly MPC meeting in Abuja, Nigeria, September 22, 2015. REUTERS/Afolabi Sotunde play Central Bank Governor Godwin Emefiele speaks at the monthly MPC meeting in Abuja, Nigeria, September 22, 2015. REUTERS/Afolabi Sotunde

 

Read: Unconventional policies leave analysts confused

The bank's monetary policy committee had also decided to cut the cash reserve ratio from 25 percent to 20 percent, he said.

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