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.

Recent Business

Mobile money instant payment in Africa. Photo by Olumide Bamgbelu @ Unsplash
PayPal targets Africa with cross-border digital wallet in 2026
Read More »
African map. Photo by Joachim Schnürle @ Pixabay
Can Africa really have one central bank by 2026?
Read More »
Musanze, Rwanda. Photo by Dieuvain Musaghi @ Unsplash
Rwanda inflation ticks up to 7.2% as food insecurity and import costs bite
Read More »

Recent Politics

African military exercise. Photo by Alexander McKinley @ Unsplash
Can a US-brokered deal finally end the DRC - Rwanda conflict?
Read More »
Patrice Talon, President of Benin Photo @Patrice Talon/Facebook
Benin coup attempt foiled as ECOWAS warns of regional force deployment
Read More »
William Ruto, President of The Republic of Kenya. Photo: @ William Ruto/Facebook
Ruto strengthens 2027 re-election bid as UDA sweeps key Kenya by-elections
Read More »

Latest Posts

Latest news insights