Abuja, July 23, 2024 (NAN) The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday raised the country’s baseline interest rate by another 50 basis points to 26.75 per cent. Mr Yemi Cardoso, Governor, CBN, who doubles as the Chairman of the MPC, made this known while presenting the communique from the 296th meeting of the committee. Cardoso also announced that the MPC adjusted the asymmetric corridor around the MPR to +500/-100 from +100/-300 basis points; retained the Cash Reserve Ratio (CRR) of commercial banks at 45 per cent. The committee also retained the CRR and
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