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…
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com