- Second rate cut in five years
- Inflation eases, reserves at decade high
ABUJA, NIGERIA – Nigeria’s central bank cut its benchmark interest rate to 26.5% on Tuesday, citing easing inflation and stronger external balances in Africa’s largest economy.
The Monetary Policy Committee voted for a 50 basis point reduction in the Monetary Policy Rate, marking only its second cut in five years as price pressures show signs of moderating.
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