BREAKING: CBN’s MPC raises interest rate to 22.75% in first policy decision under Cardoso

The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has raised interest rates, from 18.75 percent to 22.75 percent.

The MPC made the disclosure of the new rate adjustment at a news conference in Abuja on Tuesday, at the end of the monetray policy committee meeting.

The MPC raised the Monetary Policy Rate (MPR) by four hundred basis points to 22.75 percent from the previous 18.75 percent.

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