400 basis points | BTCC Knowledge

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Multiple central banks in Africa have recently taken aggressive monetary policy actions. Nigeria's Monetary Policy Committee (MPC) and Uganda's MPC both hiked their policy rates by 400 basis points. Kelvin Emmanuel commented that the increase in the Monetary Policy Rate (MPR) by 400 basis points is well-aligned. Notably, the Central Bank of Nigeria (CBN) raised its MPR to a record high of 22.75%, reflecting a strong commitment to combating inflation and stabilizing the economy.

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