Mr Tope Fasua, an economic expert said the retention of Monetary Policy Rate (MPR) by the Monetary Policy Committee (MPC) was in order.
Fasua said this while reacting to the outcome of MPC meeting in Abuja on Monday.
MPC on Friday retained MPR at 13.5 per cent and also retained Cash Reserve Ratio (CRR) at 22.5 per cent as well as the Liquidity Ratio at 30 per cent.
Fasua explained that having reduced the MPR by 50 basis points a couple of meetings ago, the committee had to observe for now and not pull all the stops.
“There is much fragility in the horizon as we saw how quickly crude oil prices corrected after the unfortunate bombing of some Saudi Arabia’s refineries and the resultant shut in….