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 Nigeria’s central bank raises interest rate from 11.5% to 13%.

Nigeria’s central bank raises interest rate from 11.5% to 13%.

The Central Bank of Nigeria’s Monetary Policy Committee has jacked up benchmark interest to 13 per cent, 150 basis points above the previous rate.

It is the first change since September 2020 and the fist hike in six years.

The Governor of the Central Bank, Godwin Emefiele, made this known while reading the communique of the MPC’s 142nd meeting.

Mr Emefiele said the action was to tame the rising inflation rate in the country.

https://www.premiumtimesng.com/news/headlines/532085-breaking-nigerias-central-bank-raises-interest-rate-from-11-5-to-13.html

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