CBN Raises Benchmark Lending Rate To 26.25% As Inflation Defies Cardoso’s Policies

The Central Bank of Nigeria (CBN) has again hiked the Monetary Policy Rate to 26.25 per cent after inflation and naira woes defied the apex bank’s effort to restore investors’ confidence in the economy.

The apex bank governor, Olayemi Cardoso disclosed the decision on Tuesday at the 295th Monetary Policy Committee Meeting in Abuja.