Investors react to interest rate tightening as NGX loses N209bn …C0NTINUE READING HERE >>>
The Nigerian stock market recorded a loss of N209 billion in market capitalisation on Wednesday, as investors reacted negatively to the Central Bank of Nigeria’s (CBN) recent interest rate hike.
The Monetary Policy Committee (MPC) of the CBN raised the Monetary Policy Rate (MPR) by 25 basis points to 27.50 per cent in November, up from 27.25 per cent in September.
The Governor of the Central Bank od Nigeria (CBN), Mr Olayemi Cardoso, announced this decision following the 298th MPC…
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