Nigeria Surprises With Half-Point Hike to Curb Inflation
WEB2 days ago — September 24, 2024 at 9:16 AM EDT. Save. The Central Bank of Nigeriasurprised financial markets by raising borrowing costs to a fresh record high to quell inflation and support the naira. The ...
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Nigeria raises interest rates to 22.75% in first meeting since July
WEBFeb 27, 2024 — Nigeria’s central bank sharply raised interest rates to 22.75 per cent at its first meeting since July as Africa’s most populous country hopes to contain its most severe economic crisis in...
Nigeria raises key interest rate to historical high - Central Banking
WEB1 day ago — Nigeria’s central bank raised its key interest rate by 50 basis points today (September 25). Following the increase – the fifth this year – the policy rate stands at 27.25%, a new historical high. The Central Bank of Nigeria (CBN) made the decision despite the fall in headline inflation, which went from 33.4% in July to 32.15% in August.
Nigeria returns to ‘orthodox policy’, says new central bank …
WEBMay 13, 2024 — Nigeria’s central bank governor indicated interest rates would stay high for as long as necessary to tame inflation, saying the institution had moved decisively to an “orthodox policy” after...
Nigeria central bank to intervene in forex market, lifts forex ban …
WEBOct 12, 2023 — Nigeria's central bank said on Thursday it plans to intervene in the country's foreign exchange market occasionally to boost liquidity, while ending an eight-year ban on 43 items that had...
Nigeria cenbank to tighten policy to curb inflation, asks banks to ...
WEBNov 25, 2023 — Nigeria's central bank will tighten policy over the next two quarters to manage inflation while directing banks to boost capital to support an expansion of the economy, its new governor,...
Nigeria Hikes Rates in First Test of Central Bank’s Autonomy
WEBJul 25, 2023 — Nigeria Hikes Rates in First Test of Central Bank’s Autonomy. President Tinubu has said interest rates should be lowered; Central bank increased rate to record 18.75% from 18.5%
The CBN’s tightrope walk: Balancing inflation and economic growth
WEB7 hours ago — The CBN’s monetary tightening has now added 850 basis points since last July, pushing the country’s borrowing costs to their highest levels on record. While the move is intended to stem inflationary pressures and stabilise the Nigerian economy, the wider implications, particularly for businesses and households, deserve closer scrutiny.
Nigeria central bank aims for 21% inflation, seeks to support naira
WEBABUJA, Jan 24 (Reuters) - Nigeria's central bank aims for inflation to fall to about 21% and will work to strengthen the country's undervalued naira currency , Governor Olayemi Cardoso said...