CBN raises interest rate again to 15.5%, CRR to 32.5%

The Central Bank of Nigeria (CBN), on Tuesday, raised its benchmark interest rate, known as Monetary Policy Rate (MPR), to 15.5 percent, the third straight hike this year. The CBN, after the two-day Monetary Policy Committee (MPC) meeting in Abuja, also raised the cash reserve ratio (CRR) to 32.5 percent from 27.5 percent. The CRR […]

read more CBN raises interest rate again to 15.5%, CRR to 32.5%