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Central Bank of Nigeria raises interest rate to 18,5%

THE Central Bank of Nigeria (CBN) has made a significant decision to raise its benchmark interest rates to 18,5% during the third meeting of the Monetary Policy Committee (MPC). This comes just months after the interest rate was previously raised in March, highlighting the on-going efforts to address inflation and maintain economic stability.

The decision to raise interest rates has sparked support and concern among various stakeholders. Proponents argue that the increase is necessary to curb inflation and ensure long-term economic stability by reducing the amount of money circulating in the economy. They believe it will have a positive impact on inflation control and attract foreign investments.

Business

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2023-05-28T07:00:00.0000000Z

2023-05-28T07:00:00.0000000Z

https://alphamedia.pressreader.com/article/281741273795322

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