Скачать или смотреть Nigeria Central bank retains key interest rate at 14%

Nigeria's central bank held its benchmark interest rate at 14 percent and maintained existing cash reserve ratios for commercial banks at 22.5 percent.The rate decision was expected by many economists who see the policy in line with the bank's efforts to resuscitate growth. Latest figures by the Nigeria Bureau of Statistics put inflation at an all time high of 18.3 percent and a third quarter negative growth of 2.24 percent. Central Bank Governor Godwin Emefiele said all members of the committee agreed on the decision to hold the rate as the bank struggles to stabilize inflation and spur economic growth. The Governor also denied reports that it was proposing a law to jail or fine people who kept dollars beyond a period of thirty days