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The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate to 17.5 percent in its efforts to tame inflation.
The Governor of CBN, Mr. Godwin Emefiele, disclosed this, this today, at the end of the first 2023 Monetary Policy Committee (MPC) meeting in Abuja.
He said that although the effects of past policy decision were being felt in the reduction of the rate of inflation, the result was not yet good enough to hold or reduce the MPR.
