Connect with us


Top Stories

BREAKING: CBN increases interest rate by 150 basis points to 26.25%

Published

on

The Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) has increased the benchmark interest rate by 150 basis points to 26.25% from 24.75%.  

The Governor of the CBN, Yemi Cardoso stated this at the press briefing following the 295th MPC meeting of the bank.  

Advertisement

Furthermore, the bank retained the Cash Reserve Ratio (CRR) of Deposit Money Banks (DMBs) at 45% and put the Asymmetric corridor around the MPR at +100 and –300 basis points.

 

Advertisement

Details later….

Advertisement
READ ALSO:   Dangote And Bello Reconcile, Settle Rift Over Obajana Cement
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Also Read...