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CBN has raised the interest rate by 150 basis points from 24.75 per cent to 26. 25 per cent

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Published (Updated) on Tuesday, May 21, 2024

NIGERIA — The Central Bank of Nigeria (CBN) has raised the interest rate by 150 basis points from 24.75 per cent to 26. 25 per cent. 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... channelstv.com

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