Members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) have been given a strong reason to hike interest rate in their next meeting of 25th and 26th of March 2024 as Nigeria’s inflation rate rose to 31.70 per cent in February.
At the latest Monetary Policy Meeting, the apex bank increased the benchmark interest rate by 400 basis points to a record 22.75 per cent.
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