CBN increases interest rate to 13.5%

Written by on May 24, 2022

The Central Bank of Nigeria (CBN) has increased interest rate to 13.5 per cent for the first time in two and half years.

Addressing the reporters after the Monetary Policy Committee (MPC) meeting in Abuja, CBN Governor, Godwin Emefiele, attributed the increase to global developments.

Increasing the interest rate, he said, is to tame inflation support growth.


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