Nigeria’s MPC raises MPR by 25bps to 18.75% (Full Speech)

At the fourth Monetary Policy Committee, the committee members voted unanimously to raise the key interest rate by 25 basis points to 18.75 per cent. Members also voted to narrow the asymmetric corridor around the Monetary Policy Rate to +100/-300 from +100/–700 basis points. Acting Central Bank Governor, Folashodun Shonubi explains the rationale behind the committee's decision.