The Monetary Policy Committee of the apex Bank announced the decision on Tuesday at the end of its bi-monthly meeting in Abuja.
CBN governor, Godwin Emefiele, who chaired the meeting, said MPC took the decision to moderately tighten the rates to ensure the gains of the past tightening were not eroded by a listening or holding of the rates. 11 members of the committee attended the meeting. While 10 members voted to increase the MPR by 100 basis point, one member voted for a reduction.
Oga it is too high. Please sit down and look at other ways to improve our economy.
Banks will never this rate on deposit except if you are borrowing they will charge this rate
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