Inflation

The monetary policy rate (MPR), which measures interest rates, has been increased by the policy-setting committee of the Central Bank of Nigeria (CBN) from 18 percent to 18.5 percent. Nigeria’s inflation rate increased to 22.22 percent last week as a result of the spike in food costs. Every other interest rate employed in an economy is based on the monetary policy rate (MPR), which serves as its foundation. The revelation was disclosed to the media on Wednesday following the committee meeting at the CBN headquarters in Abuja by Godwin Emefiele, governor of the federal bank. The apex bank would increase […]