The Centre for the Promotion of Private Enterprise said the recent Central Bank of Nigeria interest rate hike to 26.25 per cent would worsen the burden on investors amid rising economic hardship. The Director of CPPE, Muda Yusuf, disclosed this in his reaction to CBN's interest rate hike.
reports that the CBN raised the interest rate to 26.25 per cent at Tuesday's 295th Monetary Policy Committee meeting. The apex bank retained the Cash Reserve Ratio at 45 per cent, the Liquidity Ratio at 30 per cent, and the Asymmetric Corridor at +100/-300. However, CPPE said a pause in tightening monetary conditions would be better for the Country's economy. 'We have seen yet a further tightening of monetary conditions in the economy.
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