Central Bank of Nigeria has further raised its interest rate to 27.25 percent from 26.75 percent

ABUJA — The Central Bank of Nigeria has further raised its Monetary Policy Rate(MPR) by 50 basis points to 27.25 per cent from 26.75 per cent “to moderate inflation” which stands at 32.15%.

This was revealed by the CBN Governor, Olayemi Cardoso after the apex bank’s 297th Monetary Policy Committee meeting held on the 23rd and 24th of September in Abuja to review recent economic and financial developments, as well as assess its outlook for the year.

“The committee was unanimous in its decision to further tighten policy and thus decided as follows, one: raise the MPR to 27.25 per cent,” Cardoso said... channelstv.com