CBN Hikes MPR By 50bp To 27.25 % To Consolidate Inflation Slide

For sustenance of modest gains recorded in inflation moderation lately, the Monetary Policy Committee unanimously voted for the hike in lending rate (MPR) by 50 basis points to 27.25 per cent from the previous position of 26.75 per cent.

The Central Bank of Nigeria (CBN) Governor, Mr Olayemi Cardoso disclosed this on Tuesday after a two day meeting by the MPC member.

This was even as he admitted that the CBN had no choice but to make tough decisions that would improve the economy in a long time.

Details later…