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CBN Raises Interest Rate To 16.5% 

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JUST IN: CBN Raises Interest Rate To 16.5% 
Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR) again from 15.5 percent to 16.5 percent in response to rising inflation.

Gatekeepers News reports that Nigeria’s inflation rate hit a five-year high at 21.09 percent in October.

The monetary policy rate (MPR) is the baseline interest rate in an economy, every other interest rate used within an economy is built on it.

 

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