{"id":102714,"date":"2023-01-24T16:02:51","date_gmt":"2023-01-24T15:02:51","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=102714"},"modified":"2023-01-24T16:03:23","modified_gmt":"2023-01-24T15:03:23","slug":"breaking-cbn-pushes-interest-rate-further-to-17-5","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/breaking-cbn-pushes-interest-rate-further-to-17-5\/","title":{"rendered":"BREAKING: CBN pushes interest rate further to 17.5%"},"content":{"rendered":"<p>The Central Bank of Nigeria (CBN) has further increased the benchmark interest rate by 100 basis points to 17.5 per cent.<\/p>\n<p>CBN Governor, Godwin Emefiele, announced this on Tuesday following the first meeting of the apex bank\u2019s Monetary Policy Committee (MPC).<\/p>\n<div dir=\"auto\">This is the fifth time the CBN would increase the interest rate despite advice from manufacturers and some key stakeholders.The CBN said previous increases were beginning to yield results with the slight drop in the inflation rate recorded in December 2022.<\/p>\n<p>However, the CBN stressed that there was a need to keep tightening its fiscal policy.<\/p>\n<\/div>\n<div dir=\"auto\">The CBN keeps the asymmetric corridor at +100\/-700 basis points around the MPR.The CBN also retained the CRR at 32.5 per cent while the liquidity ratio was kept at 30 per cent.<\/p>\n<p>The apex bank had increased the MPR from 11.5 per cent earlier last year to 16.5 per cent across four consecutive rate hikes in 2022.<\/p>\n<div class=\"yj6qo\"><\/div>\n<div class=\"adL\"><\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Central Bank of Nigeria (CBN) has further increased the benchmark interest rate by 100 basis points to 17.5 per cent. CBN Governor, Godwin Emefiele, announced this on Tuesday following&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":100722,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-102714","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BREAKING: CBN pushes interest rate further to 17.5% - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/breaking-cbn-pushes-interest-rate-further-to-17-5\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BREAKING: CBN pushes interest rate further to 17.5% - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Nigeria (CBN) has further increased the benchmark interest rate by 100 basis points to 17.5 per cent. 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