Business
CBN Raises Interest Rate To 26.25% Amid Rising Inflation
![](https://www.osunreportersng.com/wp-content/uploads/2023/11/IMG-20231125-WA0005.jpg)
Amid rising inflation in the country, the Central Bank of Nigeria (CBN) has raised the interest rate by 150 basis points to 26.25 percent.
,,,,,, ,According to reports, the Monetary Policy Committee of the apex bank increased the benchmark interest rate to 26.25 per cent on Tuesday.
____””;;;;This was disclosed by the Governor of the CBN, Yemi Cardoso, who doubles as the Chairman of the MPC at the end of the 295th MPC meeting held in Abuja.
____’:;;;It would be recalled that at he March MPC meeting, the benchmark rate had been increased by 200 basis points from 22.75 per cent to 24.75 per cent.
WATCH OUR VIDEO OF THE WEEK HERE 👇
,,,,____,The MPC has maintained a hawkish stance since it resumed meetings this year in a bid to tackle Nigeria’s persistent inflation.
…;;:::As of April, Nigeria’s inflation rate had risen to 33.69 per cent.
____””;;;;;A number of analysts have projected a rate hike while some suggested that the apex bank may consider a hold stance as the growth rate of inflation moderated month-on-month.
-
News6 days ago
List of Nigerian Governors agreed to pay 70k Minimum Wage
-
Metro/Crime2 days ago
Slain NSCDC Officer, ‘Kenwask’ who died in Osun Communal crisis buried in Osogbo (Photos)
-
Celebrities6 days ago
List Of Richest Alfas In Nigeria 2024
-
Business3 days ago
Tinubu Orders Approval Of 150k Grant To Each Business Owner
-
Metro/Crime3 days ago
Two Killed, Palace Burnt In Osun Monarchy Dispute
-
News7 days ago
Stranded Nigerians Beg For Help At Foreign Desert (watch video)
-
Metro/Crime3 days ago
Secondary School Student Commits Su!cide After Boyfriend Denied Pregnancy
-
Opinions5 days ago
“Dangote Refinery: A Plea For Caution