BREAKING: In fifth consecutive hike, CBN raises Nigeria’s interest rate to 27.25% …C0NTINUE READING HERE >>>
The Central Bank of Nigeria, CBN, Monetary Policy Committee, MPC, has raised the interest rate by 50 basis points to 27.25 percent, the fifth hike since February 2024.
CBN Governor Olayemi Cardoso disclosed this during a press briefing at the end of 297th MPC in Abuja on Tuesday.
The development comes as the country’s inflation rate eased for the second consecutive month in August to 32.15 percent, according to the National Bureau of Statistics, NBS.
Recall that at its last MPC meeting…
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