• CBN committee refuses to reduce high interest rate

    CBN committee refuses to reduce high interest rate

    The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has opted to maintain benchmark interest rate at record-high, intensifying its battle against inflation.

    Godwin Emefiele, governor of the CBN, who made the disclosure at the central bank headquarters in Abuja, said the committee decided that monetary policies alone could not totally save the economy.

    He also called on the fiscal side of government to complement the CBN’s monetary policies.

    All ten members of the MPC voted to keep interest rate […]