Tag: Interest Rate
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BREAKING: Against projections, CBN raises interest rate to 17.5%
Against projections by some experts, the Monetary Policy Committee (MPC) of Central Bank of Nigeria (CBN) has increased the monetary policy rate by 100 basis points to 17.5 per cent.
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Global economic growth projected to slow in 2023
Global economic growth was projected to slow to 1.7 per cent in 2023, 1.3 percentage points below the forecast made in June last year.
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CBN reverses itself on 5% interest rate on intervention loans
As inflation continues to rise unabated across several advanced economies, the Central Bank of Nigeria has reversed its interest rate on intervention facilities from five per cent to nine per cent. This is according to a circular released on Wednesday August 17, signed by the director, financial policy and regulation department Chibuzo Efobi. “All intervention…
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Special Report: Examining implications of CBN’s 14% monetary policy rate
Rising inflation rate which peaked at 18.6 per cent in June, unsettled members of Nigeria’s Monetary Policy Committee (MPC), resulting in a unanimous vote to tighten the Monetary Policy Rate (MPR) from 13 per cent to 14 per cent.
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Why we raised interest rate – CBN Governor, Emefiele
Indications have emerged on why the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) raised from 13 per cent to 14 per cent the Monetary Policy Rate (MPR), which measures the interest rate in the country. TheNewsGuru.com (TNG) reports Mr Godwin Emefiele, Governor of the CBN announced the decision to raise the interest rate…
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BREAKING: CBN raises interest rate to 14 per cent
The policy-setting committee of the Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), which measures the interest rate in the country from 13 per cent to 14 per cent. TheNewsGuru.com (TNG) reports Mr Godwin Emefiele, Governor of the CBN made this known at a press briefing on the outcome of the 286th monetary policy…
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JUST IN: CBN rejects fresh lockdown, retains interest rate at 11.5 percent
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria on Tuesday urged the Federal Government not to consider another round of lockdown. CBN Governor Godwin Emefiele made this known in Abuja at the end of the first MPC meeting in 2021. The CBN governor said the Bank will work with the fiscal authorities…
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CBN retains benchmark interest rate at 12.5%
The Central Bank of Nigeria on Monday retained the country’s benchmark interest rate or Monetary Policy Rate at 12.5 percent. It also held all other monetary policy parameters constant, as the bank stated that its interventions in the economy were yielding positive results. The Governor, CBN, Godwin Emefiele, said the retention of the MPR at…