Breaking: CBN Raises MPR to 27.50%

James Emejo in Abuja

The Central Bank of Nigeria (CBN) Tuesday resolved to further raise the Monetary Policy Rate (MPR), the benchmark interest rate by 25 basis points to 27.50 per cent from 27.25 per cent.

The apex bank, which cited rising inflation for the hike, however, left other monetary policy tools unchanged.

Addressing journalists at the end of the 2- day meeting of the Monetary Policy Committee (MPC) in Abuja, CBN Governor, Mr. Olayemi Cardoso, said the committee remained focused on achieving price stability.

Details later…