CBN Raises Monetary Policy Rate to 8.75%

Category: Regulators


  Read (1502)
CBN Raises Monetary Policy Rate to 8.75%

 

 

July 26, 2011
 
The Monetary Policy Committee has just announced a hike in its benchmark interest rate for the fourth time this year in a bid to stabilize the naira and combat the impact of increased government spending on inflation. 
 
The monetary policy rate was increased today by 75 basis point to 8.75% from 8.00%. 
 
The decision reflects the CBN’s concerns over the inflationary outlook and continued pressure on the exchange rate.

 

 



Tags: , 


Comment With Your Facebook or Yahoo! ID


Latest news


News on Regulators

Feedback Form Subscribe/Unsubscribe Inside Proshare Directory Investment Community Developer Newsletters Site Map

Get our toolbar!