CBN reduces interest rate to 27%, eyes $1bn monthly inflows

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN),  yesterday, reduced the Monetary Policy Rate (MPR) by 50 basis points to 27 per cent, in a cautious shift that reflects sustained disinflation and improving macroeconomic conditions.Furthermore, the committee, while welcoming the progress in the ongoing recapitalisation exercise,

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