Monetary News: CBN raises Headline Monetary to 22.75%

In a decisive move to curb inflation and stabilise the economy, the Central Bank of Nigeria (CBN) has dramatically increased the monetary policy rate (MPR) by 400 basis points, setting it at an unprecedented 22.75%.

This adjustment marks a significant departure from the previous rate of 18.75%, maintained since the Monetary Policy Committee’s (MPC) last convening on July 24th and 25th, 2023.

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