From Victor Osula, Abuja
Cardoso, CBN Governor
The Central Bank of Nigeria (CBN) has raised its benchmark interest rate by 150 basis points to 26.25 %, to control the rising prices of goods and services and ensure stability of the naira.
CBN Governor, Olayemi Cardoso, announced this in Abuja after a two-day meeting of the bank’s Monetary Policy Committee (MPC), in Abuja on Tuesday.
He said MPC members agreed to hold other parameters unchanged.
Consequently, the CBN retained the asymmetric corridor around the MPR at +100/-300 basis points, cash reserve ratio (CRR) at 35 percent, and retained the liquidity ratio (LR) at 30 percent.
