CBN resets interest rates to 23%

The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has reset the monetary policy rate (MPR) to 23 percent.

Olayemi Cardoso, CBN’s governor, made the revealation while addressing thr media on Tuesday, after the committee’s 307th meeting in Abuja

He said 11 members of the Committee were present at the meeting.

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He added that the Committees’ decision was hinged on the current progressade in economic reforms in the country