CBN Hikes Interest Rate To 27.50 Per Cent

The Central Bank of Nigeria (CBN) has raised the monetary policy rate to 27.50 per cent from 27.25 per cent.

This followed the meeting of the Monetary Policy Committee (MPC). The monetary policy rate measures the benchmark interest rate.

The Central Bank of Nigeria (CBN) governor Yemi Cardoso announced this in Abuja on Tuesday during the last MPC meeting of the year at the apex bank’s headquarters.