CBN raises interest rate to 26.75% to rein in inflation, stabilise naira

Cardoso flags Middle East war as risk to inflation, rate cut

Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN)

The Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), also known as the benchmark interest rate, to 26.75 percent with an eye on combating inflation and fostering a favorable climate for foreign investment. This represents a 50-basis point, lowest rate hike since February

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