To combat growing inflation, the Central Bank of Nigeria (CBN) policy-setting council increased the monetary policy rate (MPR), which measures interest rates, from 14% to 15.5%. In July, the interest rate increased from 13% to 14%. The monetary policy rate (MPR) is the baseline interest rate in an economy, upon which all other interest rates … Continue reading Breaking News: CBN Pushes Interest Rate To 15.5%, Amid Rising Inflation