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Nigeria Central Bank raises benchmark interest rate to 12%

[su_dropcap]T[/su_dropcap]HE Monetary Policy Committee of the Central Bank of Nigeria on Tuesday announced a tightening of the monetary policy stance by increasing the Monetary Policy Rate by 100 basis point from 11 per cent to 12 per cent. It also increased the Cash Reserve Ratio by 250 basis points from 20 per cent to 22.5 […]

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South Africa raises key interest rate even as growth slows

SOUTH Africa raised its benchmark interest rate by an aggressive half a percentage point to 6.75 percent Thursday to counter rising inflation, despite fears that the country could be heading into recession. AFP report Economic woes have piled up in recent months for South Africa, with the International Monetary Fund slashing its latest growth forecast […]

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