cbn statement, 2023-05-24
Since May 2023 when the upward trend in the inflation rate elicited greater concerns, the Bank has implemented what can be considered as a very tight monetary policy stance with the Monetary Policy Rate successively hiked to the present level of 18.5 percent as of May 24, 2023, and Cash Reserve Requirements standing at 32.5 percent.
Sentiment: rate_hike
Topic: mp_interest_rate