Central Bank of Nigeria Raises Interest Rate To 14% To Check Inflation
Jul 20, 2022 ·
55s
Download and listen anywhere
Download your favorite episodes and enjoy them, wherever you are! Sign up or log in now to access offline listening.
Description
The Central Bank of Nigeria has raised the Monetary Policy Rate from 13 percent to 14 percent. CBN Governor Godwin Emefiele says it was the right option considering economic realities....
show more
The Central Bank of Nigeria has raised the Monetary Policy Rate from 13 percent to 14 percent.
CBN Governor Godwin Emefiele says it was the right option considering economic realities.
He says the committee resolved that the most rational policy option would be to further strengthen its tightening stance in order to effectively curtail the unabated rising trend of inflation.
He says the increase MPR to 14% from 13, retain the Asymmetric Corridor at +100 and -700 basis points around the MPR, retain the CRR at 27.5 percent and retain the liquidity ratio at 30 percent.
show less
CBN Governor Godwin Emefiele says it was the right option considering economic realities.
He says the committee resolved that the most rational policy option would be to further strengthen its tightening stance in order to effectively curtail the unabated rising trend of inflation.
He says the increase MPR to 14% from 13, retain the Asymmetric Corridor at +100 and -700 basis points around the MPR, retain the CRR at 27.5 percent and retain the liquidity ratio at 30 percent.
Information
| Author | Africa Business Radio |
| Organization | Africa Business Radio |
| Website | - |
| Tags |
Copyright 2024 - Spreaker Inc. an iHeartMedia Company
