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Monetary policy rate: Inflation will be controlled using higher MPR-Emefiele

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Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele has said the increase in the monetary policy rate to 15.5%, is necessary to tame rising inflation.

Emefiele further explained that the MPC was of the view that with the aggressive policy normalization of the economies, losing the policy stance could hurt the economy.

While the apex bank also raised the cash reserve ratio to 32.5% from 27.5%, the asymmetric corridor as well as liquidity ratio remain unchanged.




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