Business
CBN increases interest rate to 27.50%
The Central Bank of Nigeria (CBN) has increased the monetary policy rate to 27.50 percent, from 27.25 per cent.
Olayemi Cardoso, governor of the apex bank, disclosed this at the end of the Monetary Policy Committee meeting in Abuja on Tuesday.
The committee, however, retained the Liquidity Ratio (LR) at 30% and the Asymmetric Corridor at +500/-100 basis points around the MPR.
Details later…
