MPC kept all monetary policy parameters unchanged at its Sep 25-26, 2017 Meeting
In consideration of the headwinds confronting the domestic economy and the uncertainties in the global environment, the Committee decided by a vote of 6 to 1 to retain the Monetary Policy Rate (MPR) at 14.0 per cent alongside all other policy parameters. In arriving at this HOLD decision, the MPC commits to employing maximum flexibility to guide the economy on the path to optimal growth. Consequently, 6 members voted to retain the MPR and all other parameters at their current levels, while one member voted to lower the MPR to signal an ease to the current stance of tight monetary policy. However, overall, majority of the members expressed a strong commitment to policy flexibility that would allow the Committee to promptly take the necessary actions that would promote overall macroeconomic stability and engender sustainable growth. 
In summary, the MPC voted to:
(i)        Retain the MPR at 14.0 per cent;
(ii)       Retain the CRR at 22.5 per cent;
(iii)      Retain the Liquidity Ratio at 30.0 per cent; and
(iv)     Retain the Asymmetric corridor at +200 and -500 basis points around the MPR.
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