CBN LIKELY TO RAISE INTEREST RATE TO HALT INFLATION

The Central Bank of Nigeria (CBN) is set to tighten further its monetary control in a renewed bid to moderate resurgent inflationary pressure.

The apex bank Monetary Policy Committee (MPC) will hold its meeting today and tomorrow, in order to make a decision on the country’s interest rate, which stood at 27.25 percent in September 2024.

This comes as Nigeria’s headline inflation surged to 33.9 percent in October 2024.

It would be recalled that the CBN Governor, Mr Olayemi Cardoso  during  the last MPC meeting vowed that the bank will do everything to bring down the country’s inflation.