Categories: Nigeria News

BREAKING: CBN raises Monetary Policy Rates to 18.75 per cent

The Central Bank of Nigeria’s Monetary Policy Committee (MPC) made the decision to moderately hike the monetary policy rates to 18.75 per cent.

Mr. Folashodun Shonubi, the acting Governor of the Central Bank of Nigeria, made this announcement during the press briefing held at the conclusion of the 292nd MPC meeting.

This move comes after the Central Bank of Nigeria had previously tightened the economy by raising the interest rate to 18.5 per cent in its last MPC meeting.

The decision to further increase the monetary policy rates indicates the bank’s continued efforts to manage inflation and stabilize the country’s economic conditions.

Treasure Orokpo

A multi-talented individual with a passion for diverse fields, Treasure Orokpo is a trained journalist, skilled cook, and AI enthusiast. When she's not uncovering the latest stories, you can find her whipping up culinary creations in the kitchen and entertainment.

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