The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) from 26.75% to 27.25%.
This adjustment, which serves as a benchmark for interest rates, was announced by CBN Governor Olayemi Cardoso during a press conference in Abuja on Tuesday.
Cardoso explained that the decision, made after the committee’s 297th meeting, aims to further curb rising inflation in the country.
Details later…
