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BREAKING: Amidst high inflation, CBN hikes interest rate to 26.75%

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2 months ago

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The Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) by 50 basis points, raising it from 26.25% to 26.75%.

This decision comes amidst high inflation and escalating food prices in the country.

CBN Governor Olayemi Cardoso made the announcement following the apex bank’s 296th Monetary Policy Committee (MPC) meeting held in Abuja on Tuesday.

More to follow.

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