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BREAKING: CBN Raises Interest Rate To 27.5%

Posted by: Quickresponse | November 26, 2024


The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), which benchmarks interest rates in the country to 27.50 percent — from 27.25 percent.
Olayemi Cardoso, CBN’s governor, announced the committee’s decision at a press conference on Tuesday after the panel’s 298th meeting in Abuja.
He said the committee increased the MPR by 25 basis points.

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