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Nigeria’s central bank holds benchmark rate at 27% - REUTERS
ABUJA, Nov 25 (Reuters) – Nigeria’s central bank kept unchanged its Monetary Policy Rate at 27%, its governor Olayemi Cardoso said on Tuesday, as double-digit inflation remained a concern.
Economists polled by Reuters had predicted a 1-percentage-point cut, following up on September’s 50-basis-point cut which was the first reduction since 2020.
Consumer inflation slowed for the seventh month in a row in October, reaching 16.05% year on year whereas it was at 24.48% in January.
-industrial investment
“Headline inflation remains high at double digits and requires sustained efforts towards moderating it further,” Cardoso told a press conference.
