By Peter OBIORA

Lagos (INVESTADVOCATE)-Nigeria Monetary Policy Committee (MPC) on Tuesday September 22, 2015 at its meeting said it has reduced cash reserve requirement (CRR) by 600 basis points to 25 percent  from 31 percent in a vote of seven (7) to three (3).

Other decisions taken include retaining the Monetary Policy Rate at 13 percent in a unanimous decision. Also, retained are the symmetric corridor around the MPR at 200 basis points and Liquidity ratio (LR) at 30 percent.

Other key considerations at the MPC meeting is that the economic growth is slowing down and threatening a possible recession in 2016, rising unemployment and external factorssuch as the JP Morgan delisting