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Home Economy Finance

Breaking: CBN Raises Benchmark MPR by 200 Basis Points to 24.75%  

Reporter: Tobi Adetunji 

by Techeconomy
March 26, 2024
in Finance
2
Bank Customers' Complaint, Yemi Cardoso, CBN Governor, BDCs, dollar-denominated collateral, Cybersecurity Levy, Interest Rate
Yemi Cardoso, CBN Governor

Yemi Cardoso, CBN Governor

UBA
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The Central Bank of Nigeria (CBN) has increased the monetary policy rate (MPR) by 200 basis points, to a new unprecedented 24.75% at the end of its 294th meeting of the Monetary Policy Committee (MPC). 

This is a lower hike compared to the 400 basis points at 22.75% in the previous month.

The decision announced by Yemi Cardoso, the CBN governor, propels the MPR to its highest point ever, reaffirming the CBN’s aggressive stance on monetary tightening in response to inflationary pressures.

Details later…

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    Techeconomy

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  1. Pingback: Recovery of Naira Linked to $7bn FX Backlog Clearance, BDCs React - Tech | Business | Economy
  2. Pingback: KPMG: CBN’s Monetary Tightening Not Enough to Tame Inflation - Tech | Business | Economy

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