CBN raises benchmark interest rate
The committee voted to retain the Cash Reserve Ratio (CRR) at 45 per cent for commercial banks and adjust the ...
The committee voted to retain the Cash Reserve Ratio (CRR) at 45 per cent for commercial banks and adjust the ...
The CBN, at its last meeting, raised the MPR significantly by 200 basis points to 24.75 per cent from 22.75 ...
The rate has remained at 11.5 per cent since the last quarter of 2020 despite persistent inflation in the country.
The bank also retained other parameters.
The bank says increasing the rate will hinder the recovery of the economy, while an expansionary policy will make inflation ...
The move is expected to allow further economic growth, despite four-year high inflation, after the country exited recession last year.
The bank had adjusted the MPR from 14 per cent to 13.5 per cent in March
The committee is also concerned about the rising level of non-performing loans in the banking system.
The committee is waiting for key indicators in the federal budget and the implementation of fiscal policy in 2018 to ...
Bank finalising a N500 billion fund with NEXIM to boost local manufacturing and non-oil exports.
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