CBN continues monetary policy tightening, raises interest rate

CBN continues monetary policy tightening, raises interest rate …C0NTINUE READING HERE >>>

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has further raised interest rate by 25 basis points to 27.50 per cent from 27.25 per cent.

The Governor of the CBN and Chairman of the MPC, Yemi Cardoso, announced the raise on Tuesday in Abuja, while presenting a communiqué after the 298th meeting of the committee.

Cardoso, however, announced that the committee also decided to hold all other parameters constant.

The MPC, thus, retained the Cash Reserved Ratio…

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