The Central Bank Governor, Dr Godwin Emefiele has assured Nigerians that the country would be out of recession in the 3rd quarter of the year following the positive economic indicators.
The Governor stated this while briefing newsmen after the conclusion of that apex bank’s monetary policy committee meeting in Abuja.
Emefiele said that positive indicators such as inflation moving upwards and GDP moving up from negative aggregate are pointers that by the third quarter of the year, the country will be out of recession.
Meanwhile, the apex bank Governor disclosed that the committee voted to keep the monetray policy rate (MPR) at 14%, cash reserve ratio (CRR) at 22.5% and the liquidity ratio at 30%.
The MPR is the base rate at which the CBN, , lends to Deposit Money Banks in its position as lender of last resort, to boost the level of liquidity in the banking system.
