ABUJA, May 24 (Xinhua) -- Nigeria's apex bank on Tuesday raised the Monetary Policy Rate, the benchmark interest rate, to 13 percent -- the first hike in more than two years.
The Central Bank of Nigeria (CBN) raised the interest rate by 150 basis points to combat rising inflation in the most populous African country, Godwin Emefiele, governor of the CBN, told reporters at the end of the apex bank's Monetary Policy Committee meeting in Abuja, the Nigerian capital.
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