BREAKING: Central Bank Increases Interest Rate To 26.25%—–The Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) has increased the benchmark interest rate by 150 basis points to 26.25% from 24.75%.
The Governor of the CBN, Yemi Cardoso stated this at the press briefing following the 295th MPC meeting of the bank.
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Furthermore, the bank retained the Cash Reserve Ratio (CRR) of Deposit Money Banks (DMBs) at 45% and put the Assymetric corridor around the MPR at +100 and –300 basis points
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