Friday, July 18, 2025
Home Uncategorized MONETARY POLICY: CBN RAISES INTEREST RATE TO 18.75%

MONETARY POLICY: CBN RAISES INTEREST RATE TO 18.75%

The Monetary Policy Committee of the Central Bank of Nigeria has voted to increase the benchmark interest rate by 25 basis points to 18.75 per cent.

The Acting CBN Governor, Folashodun Shonubi, disclosed this while reading the communiqué of the fourth MPC meeting of the year in Abuja

He said, “In summary, the MPR voted to raise the policy rate by 25 basis points from 18.5 to 18.75 per cent.”

Addressing journalists at the end of the two-day meeting in Abuja, Shonubi says, the committee voted to adjust the asymmetric corridor at +100 and -300 basis points around the MPR.

Analysts’ expectations had been divergent ahead of the first MPC meeting after the suspension of Godwin Emefiele as the governor of the CBN.

It’s could be recalled that, the CBN started its monetary policy tightening cycle in May 2022, with its benchmark interest rate rising from 11.5 per cent to 18.5 per cent in May this year.

President Bola Ahmed Tinubu had said interest rates needed to be reduced to increase investment and consumer purchasing in ways that sustain the economy at a higher level.

RELATED ARTICLES

NIES 2025: NNPC LTD LEADING THE CHARGE TOWARDS AFRICA’S GAS INFRASTRUCTURE EXPANSION—KYARI .

. The Group Chief Executive Officer of NNPC Ltd, Mele Kyari says,  the world recognizes Africa as the next destination of providing greater support to...

WARNS OFFICERS AGAINST GROSS VIOLATION OF RIGHTS, POLICE MISCONDUCT.

The Inspector-General of Police Kayode Egbetokun has issued a stern warning to all officers regarding serious breaches of Human Rights, emphasizing the duty of...

NNPC Ltd/First E&P JV ACHIEVES 96% REDUCTION IN ROUTINE GAS FLARING

The NNPC Ltd and First Exploration & Petroleum Development Company Limited (First E&P) Joint Venture (JV) says it  has achieved 96% reduction in routine...

Most Popular

RECOGNITION FOR EXCELLENCE: NCS SPOKESPERSON MAKES 2025 PR POWER LIST.

The Nigeria Customs Service (NCS) has again been spotlighted for excellence in public service and strategic communication. The National Public Relations Officer, Assistant Comptroller...

OGUN STATE ATHLETICS SHINES AS SPORTS HUB AT CAA U18/U20 ATHLETICS CHAMPIONSHIP.

  It was a colorful and energetic start to the Confederation of African Athletics U18 and U20 Championships in Abeokuta, as the newly refurbished MKO...

NFF MOURNS PASSING OF FORMER SUPER EAGLES COACH, MONDAY SINCLAIR.

Nigeria’s football community is mourning the loss of one of its legendary figures Monday Sinclair a former international player and revered coach fondly known...

JOB CREATION: SMEDAN CHAMPIONS GROW NIGERIA INITIATIVE.

The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, has commended the “GROW Nigerian” strategy which aims to boost the growth of Micro,...

Recent Comments