CBN raises interest rate to 26.25% - NEWS FRONTIER DAILY

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    Tuesday, May 21, 2024

    Home Economy CBN raises interest rate to 26.25%

    CBN raises interest rate to 26.25%





    The Central Bank of Nigeria (CBN) has again raised the Monetary Policy Rate by 150  basis points to 26.25 Per cent  from  24.75 percent. 

    Briefing the press on the outcome of the 295th Monetary Policy Committee (MPC) meeting in Abuja,  the Governor of CBN, Mr. Olayemi Cardososo, also announced  that the committee retained  the asymmetric corridor of +100/-300 basis points.

    Similarly the MPC retained the Cash Reserve Ratio (CRR) of Deposit Money Banks at 45 percent, and the Liquidity Ratio at 30 per cent.

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    NEWSFRONTIER is a product of a dedicated and seasoned Journalist who has cut his teeth in the Media industry. The Publisher was once a teacher, and a public commentator. He was well grounded in community journalism. He had edited many Newspapers both local and international. The focus of NEWSFRONTIER is to inform, educate, entertain and above all be source of credible news source for the opinion moulders and the general public. We are assuring all our readers/audience that we are going to be objective, concise, and be guided by our conscience by looking at every information and data from all angles. Journalism is evolving daily, we will move with time, but not be swayed with tide.