The Monetary Policy Committee of the Central Bank of Nigeria has again raised the benchmark interest rate by 150 basis point from 24.75 percent to 26.25 percent.
The Committee retained asymmetric corridor at +100 and -300 basis point. The MPC also retained the Cash Reserved Ratio at 45 percent and liquidity ratio at 30 percent.
CBN Governor, Olayemi Cardoso, at the295th meeting said the focus remains to achieve price stability in a bid to rein in inflation.
This is the third MPC meeting since Cardoso assumed office, with the Monetary Policy Rate increasing by 600 basis points during the sessions in February and March.
(Editor: Ken Eseni)
