Nigeria's interest rate jumps to 27.25% as CBN raises MPR The Central Bank of Nigeria (CBN) has raised its Monetary Policy Rate (MPR) by 50 basis points to 27.25% from 26.75%. This decision was made unanimously by the Monetary Policy Committee (MPC) at the end of its 297th meeting in Abuja, attended by 11 out of 12 members. READ ALSO: Again, CBN raises interest rate to 26.75% CBN Governor Olayemi Cardoso announced that the committee also retained the asymmetric corridor at +500 and -100 and increased the cash reserve ratio from 45% to 50%. The...