BREAKING NEWS
Breaking

728x90

468x60

BREAKING: CBN increases interest rate to 26.75% as inflation persists


 The monetary policy committee of the Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), which benchmarks interest rates, to 26.75 percent — from 26.25 percent

 

Olayemi Cardoso, governor of the apex bank, announced the rate adjustment on Tuesday at the end of the committee’s 296th meeting in Abuja.

 

Last week, Nigeria’s inflation rate rose to 34.19 percent amid the surge in food prices.

 

The MPR is the baseline interest rate in an economy, every other interest rate used within the economy is built on it.

 

More to follow…

Click to signup for FREE news updates, latest information and hottest gists everyday


Advertise on NigerianEye.com to reach thousands of our daily users
« PREV
NEXT »

No comments

Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)

Advert Enquires - Reach out to us at NigerianEye@gmail.com