Business
CBN Raises Interest Rate To 26.25% Amid Rising Inflation
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.
-
Weird News7 days ago
Mother Marries Own Son After Pregnant For Him (Photo)
-
Celebrities4 days ago
Popular Yoruba Actor Is Dead (Photo)
-
Entertainment6 days ago
List Of FM Radio Stations In Southwest, As Lagos, Oyo Top List (See Full List From 6 States)
-
Osun News3 days ago
Transformer cable vandal arrested in Osun (Photo)
-
Politics1 day ago
Obaseki resigns from PDP
-
Politics7 days ago
Bola Tinubu makes four new appointments
-
Politics16 hours ago
Bisi Akande, Olanipekun, Titi Tomori-Ponnle, Others Get Federal Appointments
-
News7 days ago
Fresh minimum wage proposal emerged (detail)