CBN increases interest rate to 18.75% on rising inflation concern
Central Bank of Nigeria, CBN, has increased the monetary policy rate, MPR, from 18.5 per cent to 18.75 per cent. The MPR which measures interest rate on concern of ballooning inflation rate which 22.79 per cent in June, according to data from the National Bireau of Statistics, NBS. Addressing journalists after the two-day Monetary Policy…