National News
CBN Resets Monetary Policy Rate to 23%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has reset the Monetary Policy Rate (MPR) to 23 per cent.
CBN Governor, Olayemi Cardoso, announced the decision on Tuesday at the end of the committee’s 307th meeting in Abuja.
According to Cardoso, the committee reached the decision after reviewing prevailing economic and financial conditions.
“The Committee decided as follows: reset the monetary policy rate to 23 per cent,” the CBN governor said.
The latest decision sets the benchmark interest rate at 23 per cent.
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