CBN Hikes MPR To 26.75 % To Counter Inflation

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso has said that 11 members of the Monetary Policy Committee (MPC) raised lending rate by 60 basis points to 26.75 percent from from 26.25 per cent.

Cardoso made this known on Tuesday, July 23, in response to the continued uptick in inflation pressure.

The CBN Governor said this development followed a two day meeting with the 11 members of the Monetary Policy Committee ( MPC) which was rounded up on Tuesday.

Details later…