Follow Us

NewsJUST-IN: CBN Raises Interest Rate To 16.5%

JUST-IN: CBN Raises Interest Rate To 16.5%

 

The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR), which is the official interest rate, by yet another 100 basis point to hit 16.5 per cent from 15.5 per cent around other parameters.

The Monetary Policy Committee (MPC) of the apex Bank announced the decision on Tuesday at the end of its bi-monthly meeting in Abuja.

CBN governor, Godwin Emefiele, who chaired the meeting, said MPC took the decision to moderately tighten the rates to ensure the gains of the past tightening were not eroded by a listening or holding of the rates.

11 members of the committee attended the meeting. While 10 members voted to increase the MPR by 100 basis point, one member voted for a reduction.

Details Later…

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Popular

Share post:

Subscribe

More like this
Related

Married Woman Died After F ;ollow er unmarried Friend

A married woman followed her unmarried friend all the way...

UEFA Finalise Man United’s Europa League Decision As Rashford’s Future Clarified

UEFA finalise Man United’s Europa League decision as Marcus...

2023/2024 FA Cup Final: Man United Triumph Over Man City, Wins Trophy

Manchester United has defeated opponent Manchester City to win...

2024 Child-Day: NAPPS President Calls For Technology Driving Innovation For Nigeria Childrens

By Hosea Yusuf, Abuja As the technology plays an increasingly...