170
The Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) has again raised the interest rate by 50 basis points to 27.25 percent.
This is the fifth hike since February 2024.
CBN Governor Olayemi Cardoso disclosed this during a press briefing at the end of 297th MPC in Abuja on Tuesday.
The development comes as the country’s inflation rate eased for the second consecutive month in August to 32.15 percent, according to the National Bureau of Statistics, NBS.
Details later…
(Ripples Nigeria)
