IMF Backs CBN’s Monetary Tightening Stance, Urges Other Central Banks To Raise Interest Rate To Check Inflation

WASHINGTON D.C: The International Monetary Fund on Tuesday backed the recent monetary tightening stance of the Central Bank of Nigeria, urging further tightening by Central Banks to check the global rising inflationary pressures.

The Fund made the recommendation in its Global Financial Stability Report which was released on Tuesday at the sidelines of the IMF/World Bank Spring meetings holding in Washington DC.

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