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Foreign reserves decline as the naira declines in spite of FX changes

Foreign reserves decline as the naira declines in spite of FX changes
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Raising lending rates may not tame inflation

THE decision of the Monetary Policy Committee of the Central Bank of Nigeria to increase the benchmark interest rate by 400 basis points to a record 22.75 per cent, has elicited mixed reactions. Although some welcome the move, many financial experts argue that it will compound the woes of the already impoverished citizens. ....

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CBN raises interest rate to 22.75%

The CBN Governor, Olayemi Cardoso, disclosed this while reading the communiqué of the first MPC meeting of the year on Tuesday in Abuja. ....

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Private sector, economists foresee fresh job losses, recession

Members of the private sector and economists have faulted the MPC decision, saying it would lead to fresh job losses and possibly recession. ....

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Analysts foresee interest rate hike as MPC holds meeting

The CBN's Monetary Policy Committee may raise the Monetary Policy Rate at the end of the meeting on Tuesday, according to financial analysts. ....

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