CBN MPC increases interest rate to 18.75%

The Central Bank of Nigeria’s Monetary Policy Committee has moderately hiked monetary policy rates to 18.75 per cent.

The acting Governor of the Central Bank of Nigeria, Mr Folashodun Shonubi, disclosed this on Tuesday at the press briefing at the end of the 292nd MPC meeting.

Odogwublog.com recalls that the Central Bank of Nigeria (CBN), in its last MPC meeting, tightened the economy by raising the interest rate to 18.5 per cent.