CBN resets interest rates to 23%

The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has reset the monetary policy rate (MPR) to 23 percent. Olayemi Cardoso, CBN’s governor, made the revelation while addressing the media on Tuesday, after the committee’s 307th meeting in Abuja. He said 11 members of the Committee were present at the meeting. He added that the Committee’s decision was hinged on the current progress made in economic reforms in the country.

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