The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) by 50 basis points.
This decision was reached at the 297th Monetary Policy Committee (MPC) meeting held in Abuja. The move signifies continued tightening of monetary policies as inflationary pressures persist.
CBN Governor, Olayemi Cardoso, disclosed that 11 of the 12 committee members present unanimously supported the rate hike. …CONTINUE READING