interest rates
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Nigeria CBN Raises Monetary Policy Rate to 26.25% to Combat Surging Food Prices
The Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR) from 24.75% to 26.25% to combat rising inflation, now at 33.69% due to increasing food prices. This is the third consecutive rate hike this year, impacting borrowing costs and economic growth in Nigeria. The monetary...- Nigeria News
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- Category: Business
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Nigeria Monetary Policy Committee Considers 100 Basis Point Hike to Curb Soaring Inflation
Amidst soaring inflation, the Central Bank of Nigeria (CBN) considers raising interest rates by 100 basis points, as projected by analysts. In April 2024, headline inflation rose to 33.69 percent. With the MPC meeting imminent, stakeholders anticipate decisive measures to address inflationary...- Nigeria News
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Nigeria Currency Crisis: Nigeria's Naira Plummets, Emerges as World's Worst-Performing Currency
Discover why Nigeria's naira has become the world's worst-performing currency, plunging to its weakest level in weeks. Amid rising pressure on the central bank to boost interest rates, the naira's decline underscores market volatility and underscores the challenges of managing forex controls in...- Nigeria News
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Business Nigerians Should Expect Increase in Interest Rates Again – CBN
The Central Bank of Nigeria governor, Godwin Emefiele, on Saturday, hinted at a probable increase in lending rates sequel to the unrelenting headwinds that keep pushing up the nation’s inflation rate. Emefiele, who spoke with journalists on the sidelines of the ongoing World Bank/IMF Spring...- ProfRem
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