The Central Bank of Nigeria (CBN), on Tuesday, raised the Monetary Policy Rate (MPR), which measures interest rates by 50 basis points, from 26.25% to 26.75% amid soaring inflation and skyrocketing food prices.
The Governor of the apex bank, Olayemi Cardoso, announced this after the apex bank’s 296th Monetary Policy Committee (MPC) meeting in Abuja.
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