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Tuesday, October 3, 2023

BREAKING: Again, CBN raises Monetary Policy Rate

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The Central Bank of Nigeria (CBN) Tuesday raised the Monetary Policy Rate (MPR) by 25 basis points to 18.75 per cent from the previous 18.5 per cent.

CBN acting Governor, Mr. Folashodun Shonubi, said while addressing journalists after a two-day Monetary Policy Committee (MPC) meeting in Abuja, said the increase in the benchmark interest rate was to respond to rising inflationary pressures.

The CBN also adjusted the asymmetric corridor of the MPR to +100/-300 from +100/-700 around the MPR.

Details later….

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