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Nigeria’s Central bank substantially loosen monetary policy by cutting benchmark rate to 11%
LAGOS, Nigeria, Capital Markets in Africa — On 24 November 2015, the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) meeting was held where the MPC resolved to reduce the monetary policy rate (MPR) to 11 percent from 13 percent, Governor Godwin Emefiele told journalists today. Nigeria’s central bank reduced its benchmark interest rate for the first time in six years, deviating from its counterparts in most of African countries that have tightened monetary policy in…
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