CBN Increases Nigeria's Interest Rate To 27.25% For Fifth Consecutive Time
The Central Bank of Nigeria has further raised its Monetary Policy Rate (MPR) by fifty basis points to twenty seven point two five per cent from twenty six point seven five per cent.
This was revealed by the CBN Governor, Olayemi Cardoso after the apex bank’s 297th Monetary Policy Committee meeting held on the 23rd and 24th of September to review recent economic and financial developments, as well as assess its outlook for the year.
This will be the fifth time the apex bank has raised interest rates this year.
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