Tuesday, November 12, 2024
HomePoliticsNEWSCBN Raises Interest Rate To 18.75 Per Cent

CBN Raises Interest Rate To 18.75 Per Cent

On Tuesday, July 25, the Central Bank of Nigeria (CBN) in its fourth Monetary Policy Meeting for 2023 increased the Monetary Policy Rate (MPR) from 18.5 percent to 18.75 percent.

The Monetary Policy Committee (MPC) of the CBN retained the Cash Reserve Ratio (CRR) at 32.5 percent and the Liquidity Ratio (LR) at 30 percent.

The Acting Governor of the Central Bank of Nigeria (CBN), Mr. Folashodun Shonubi while addressing the press on Tuesday in Abuja explained that the MPC decided to hike the MPR by 25BPS in order to contain inflation and check interest rate.

 

Also, Read

Yetunde Barnabas Celebrates Daughter’s First Birthday With Adorable Photos

ALSO READ:  “Six conditions that all schools and universities must meet before they open says; Minister for state Educations in Nigeria.
RELATED ARTICLES

Leave a Reply

- Advertisment -

Most Popular

Recent Comments