Tag: Interest rate
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BREAKING: CBN Raises Interest Rate to 17.5%
The Monetary Policy Committee of the Central Bank of Nigeria has voted to increase the benchmark interest rate by 100 basis points to 17.5 per cent. The CBN Governor, Godwin Emefiele, disclosed this while reading the communiqué of the first MPC meeting of the year on Tuesday. This is the fifth time the CBN…
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Global Economy at Risk of Recession, World Bank Warns
The global economy is “perilously close to falling into recession”, according to the latest forecast from the World Bank. It expects the world economy to grow by just 1.7% this year – a sharp decrease from the 3% it predicted in June. The report blames a number of factors stemming from Russia’s invasion of Ukraine…