To consolidate on gains derived from previous tightenings, the Central Bank on Tuesday, raised the lending rate by 150 basis points.
The fresh hike by the Monetary Policy Committee (MPC) raised the lending rate to 26.25 per cent from the March figure of 24.75 per cent.
According to the CBN Governor, Mr Olayemi Cardoso, the new measure endorsed by all twelve members of MPC, will tame inflationary pressure.
Details later…
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