The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the Monetary policy Rate (MPR) to 18.75% from its initial 18.5%.
This is a 25 basis points increase over the rates in May 2023.
This is the first press briefing by Acting CBN governor, Folashodun Shonubi, after the suspension of Godwin Emefiele.
This is the seventh consecutive rate hike by the Apex Bank.
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