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CBN Raises Interest Rate To 26.25 % Amid Soaring Inflation Levels

22 May 2024

Following a two-day meeting, the bank’s Monetary Policy Committee ,MPC, agreed to increase the Monetary Policy Rate,MPR, for the third straight time to rein in the country’s soaring inflation levels pegged at 33.69% in April 2024.The CBN Governor Yemi Cardoso who is also the MPC chairman however, said the Cash Reserve Ratio ,CRR, of Deposit […]

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