Cardoso’s CBN raises the stakes in interest rate from 24.75% to 26.25%

The Monetary Policy Committee(MPC) of the Central Bank of Nigeria (CBN) has again up the ante in the benchmark interest rate by 150 basis point from 24.75 per cent to 26.25 per cent.

The committee also retained asymmetric corridor at +100 and -300 basis point.

This is just as the MPC also retained the Cash Reserved Ratio at 45 percent and liquidity ratio at 30 percent.

CBN Governor, Olayemi Cardoso, said the focus remains to achieve price stability in a bit to reign in inflation.

This is the third MPC meeting since Cardoso assumed office.