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

© 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.

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