JUST-IN: CBN Raises Lending Rate To N26.75%

Governor of the Central Bank, Olayemi Cardoso, said the continuous hike in rates was based on Nigeria’s persistent hike in food and core inflation, calling on the fiscal authorities to immediately address inflationary pressures.

The apex bank also adjusted the asymmetric corridor around the MPR from +100/-300 to +500/-100 basis point

The MPC held the cash reserve ratio of Deposit Money Banks (DMBs) and the liquidity ratio constant.

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