CBN raises interest rate to 18%

21 March 2023 3:14 pm WAT

By David

From Uche Usim, Abuja

Following its 147th meeting in Abuja, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has decided to increase the interest rate, also known as the Monetary Policy Rate (MPR), from 17.5% to 18%.

This move is intended to curb inflation and strengthen the country’s economy.

Details to follow…

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