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CBN Raises Interest Rate To 14% To Check Inflation

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

CBN Governor Godwin Emefiele announced this on Tuesday during the 286th meeting of the Monetary Policy Committee held in Lagos.

While the apex bank increased the MPR rate, it, however, retained other parameters.

More to follow…

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