Nigerian inflation continued its upward trajectory for the tenth consecutive month in October, intensifying expectations for the new central bank governor to consider interest rate hikes in the upcoming monetary policy committee meeting—the first since his appointment. “Consumer inflation soared to 27.33% year on year in October, marking an 18-year peak, escalating the challenge for Read More…
Tag: Monetary Policy Committee
CBN raises MPR to stem inflation for 3rd time in 2022
MPR is now 15.5% The Monetary Policy Rate (MPR) has been raised from 14 per cent to 15.5 per cent on Tuesday in a bid by the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to stem increasing inflation. The committee had increased the MPR by a total of 250 basis points Read More…