- Nigeria keeps benchmark rate unchanged at 26.5%
- Gulf energy shock threatens fragile inflation gains
LAGOS, NIGERIA — Nigeria’s central bank left its benchmark interest rate unchanged on Wednesday despite a second straight monthly rise in inflation, signalling caution as Middle East tensions continue to pressure Africa’s largest economy.
The Central Bank of Nigeria (CBN) retained its monetary policy rate at 26.5%, arguing that recent inflationary pressures were largely driven by external energy shocks rather than domestic overheating.
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