CNBC Africa ‏@cnbcafrica

Emefiele: growth in advanced economies appears to be recovering

Emefiele: Global inflation has remained suppressed, monetary policy could diverge

Emefiele: on the supply side efforts must be intensified to spur badly needed growth in Nigeria

Emefiele: MPC notes that pressure on consumer pricing is structural

Emefiele: The MPC says consumers under-added pressure because of Naira

Emefiele: Committee acknowledged weak economic performance

Emefiele: M/M inflation has declined since May 2016

MPC cannot move the economy out of stagflation, a rate reduction was discussed

MPC says greatest challenge is incomplete structural reforms

$1bn in foreign investment have come in since July

Loosening monetary policy is not advisable

outlook to inflation in medium term appears benign

The economy continues to face risks, we decided to retain all monetary policy instruments at their current levels

MPC has voted to Retain MPR at 14%