Breaking news: CBN again raises MPR by 50 basis points

The Monetary Policy Committee (MPC), on Tuesday announced another increase in the country’s Monetary Policy Rate (MPR), known as the baseline interest rate, to 26.75 per cent from 26.25 per cent.

The MPC also adjusted the Asymmetric Corridor to +500/-100 basis points from +100/-300 basis points around the MPR.

Mr Yemi Cardoso, the Governor of CBN made this known on Tuesday in Abuja, while presenting the communiqué from the 296th meeting of the MPC.

Details later.