The Central Bank of Nigeria (CBN) maintained its hawkish stance as it increased the benchmark interest rate, otherwise known as the Monetary Policy Rate (MPR), by additional 25 basis points to 18.75 percent.
The CBN also adjusted the asymmetric corridor around the MPR to +100 and -300 basis points.
The announcement was made today by Folashodun Shonubi, who is the acting governor of the CBN, after the two-day Monetary Policy Committee (MPC) in Abuja.
Details later
