The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), which benchmarks interest rates, from 18.75 percent to 22.75 percent.
The regulator announced the rate adjustment at a news conference in Abuja on Tuesday, after the monetray policy committee meeting.
The rate hike is the first monetary policy decision made by the committee since Olayemi Cardoso assumed office on September 26, 2023.
More to follow…
Credit: The Cable
Leave a Reply