Search

Nigeria’s Central Bank Faces Pressure to Hike Interest Rates Again

Allen dreyfus Logo
© Allen Dreyfus
  • Inflation rises to 33.88% in October, reversing earlier declines
  • Analysts anticipate another rate hike as economic pressures mount

Abuja, Nigeria – The Central Bank of Nigeria (CBN) begins its final deliberations of the year today on whether to raise its benchmark interest rate, facing a difficult choice between containing inflation and managing the adverse effects of high borrowing costs on economic growth.

You need an active subscription to continue reading this article.

Recent Business

Mobile phone usage in Africa is high. Photo by Zac Wolff @ Unsplash
MTN Ghana profit surges 46% as data and fintech drive growth
Read More »
Elderly woman on a busy street. Photo by Ink Pond @ Unsplash
Nigeria’s pension assets hit record $17 billion amid reform success
Read More »
Giza, Egypt. Photo by Phillip Wang @ Unsplash
Egypt sees record $26.6bn remittance surge as reforms pay off
Read More »

Recent Politics

Worsening floods, droughts as a result of climate change hit Africa. Photo by Matt Palmer @ Unsplash
Rwanda targets $12bn to tackle climate crisis and cut emissions by 53%
Read More »
William Ruto, President of The Republic of Kenya. Photo: @ William Ruto/Facebook
Kenya faces political uncertainty after Raila Odinga’s death
Read More »
Nigeria young voters protest for reforms. Photo by Ayoola Salako @ Unsplash
Nigeria’s opposition weakens as governors, lawmakers flock to ruling party
Read More »

Latest Posts

Latest news insights