CBN Raises MPR to 26.25%

James Emejo in Abuja

The Central Bank of Nigeria (CBN) Tuesday resolved to raise the Monetary Policy Rate (MPR), the benchmark interest rate by 150 basis points to 26.25 per cent from 24.75 per cent.

The CBN also increased the asymmetric corridor around the MPR to +100/-300 basis points.

CBN Governor, Mr. Olayemi Cardoso, disclosed the adjustments at the end of the two-day meeting of the Monetary Policy Committee (MPC), adding that the decision was taken to further curb rising inflation.

Details later…