Categories: News

Breaking: CBN Raises Interest Rate (MPR) To 22.75%

The Monetary Policy Committee of the Central Bank of Nigeria has increased the benchmark interest rate by 400 basis points to a record 22.75%.

This development is coming barely 24 hours after some financial analysts predicted an increase in the rate at the end of Tuesday’s meeting.

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The analysts also projected the MPC to make major decisions on banks’ capital requirements and liquidity ratios.

A few days after the National Assembly screened and approved new members of the MPC, it started a two-day meeting on Monday.

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The meeting is expected to be held from Monday till Tuesday.

Details later…

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