The Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) from 24.75 per cent to 26.25 per cent.
CBN Governor Olayemi Cardoso announced this during the meeting of the apex bank’s Monetary Policy Committee (MPC) in Abuja on Tuesday, May 21, 2024.
The MPR is the baseline interest rate in an economy which banks use to set their interest rates.
Details later…
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