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JUST IN: MPC Raises Interest Rate To 14% To Tame Rising Inflation

JUST IN: CBN Raises Interest Rate To 16.5% 

Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) from 13 percent to 14 percent.

Gatekeepers News reports that the MPR is the baseline interest rate in an economy as every other interest rate used within an economy is built on it.

The CBN Governor, Godwin Emefiele, while addressing journalists on Tuesday after the committee’s meeting said the hike in interest rate would help tame rising inflation.

This is a developing story.

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