interest rate hike
In response to a recent interest rate hike, Nigerian stock market investors incurred losses amounting to N1.49 trillion over the span of two days, with major banking stocks like GTCO, Zenith Bank Plc, and UBA experiencing declines. The Monetary Policy Committee (MPC) announced a hike in the Monetary Policy Rate (MPR) to 22.75 percent from […]
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has taken decisive action, hiking the benchmark interest rate by 400 basis points to an unprecedented 22.75%. In a statement following the first MPC meeting of the year, CBN Governor, Olayemi Cardoso, outlined the committee’s decisions, including adjustments to the asymmetric corridor around the […]
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