The Bank of England raised interest rates by half a percentage point Thursday, after data this week revealed surprisingly stubborn inflation. The move will pile pain on people with mortgages and put more downward pressure on house prices. The decision…
Fed raises US interest rates to highest in 16 years
The US central bank has raised interest rates to the highest level in 16 years as it battles to stabilise prices. The Federal Reserve increased its key interest rate by 0.25 percentage points – its 10th hike in 14 months.…
CBN further increases monetary rate to 14%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has for the second time in three months increased official interest rate by 250 basis point. The committee increased the Monetary Interest Rate (MPR) by 150 basis point…