Image

CBN RAISES INTEREST RATE TO 18.5%

The policy-setting committee of the Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), which measures interest rate, from 18 percent to 18.5 percent.


CBN Governor, Godwin Emefiele, who made the disclosure at an ongoing media briefing on Tuesday to mark the end of this month’s MPC meeting, said although the inflation has remained on the increase, the tightening measure has continued to reduce the rate of price increase.


The CBN noted that the aim was to keep inflation rate under control, citing the gains of previous high rate as reason for its new action.


The development is the third consecutive time the apex bank will be raising the benchmark rate this year.

Comments


This is Rising!

  • Image

    ZABARMARI MASSACRE: UN WITHDRAWS CLAIM 110 RICE...

  • Image

    FIRST BANK CRISIS: CBN WIELDS THE BIG STICK

  • Image

    THIS WEEK’S REPORTS FROM OUR COLUMNISTS

  • Image

    US ELECTIONS: JOE BIDEN EDGES CLOSER TO VICTORY...

  • Image

    CAMEROON'S PRIME MINISTER NARROWLY ESCAPES SEPR...

  • Image

    BOKO HARAM: INSURGENCY TO BRISK BUSINESS

  • Image

    INTERNATIONAL MARITIME ORGANIZATION'S STATEMENT...

  • Image

    MANCHESTER CITY BEGIN CAS APPEAL

  • Notice (8): Trying to access array offset on value of type null [ROOT/plugins/EonsNews/src/Template/Pages/details.ctp, line 159]" alt="Image" />

    Notice (8): Trying to access array offset on value of type null [ROOT/plugins/EonsNews/src/Template/Pages/details.ctp, line 169]/details/entertainment-intelligence-71732789101/">
    Notice (8): Trying to access array offset on value of type null [ROOT/plugins/EonsNews/src/Template/Pages/details.ctp, line 170]

  • Image

    NIGERIA DROPS, NOW SECOND MOST CORRUPT COUNTRY ...

  • Image

    INSECURITY: SENATE SUMMONS COMMUNICATIONS MINIS...

Join WhatApp Group