Central Bank of Nigeria's MPC expected to raise benchmark interest rate to combat inflation.
The Central Bank of Nigeria's Monetary Policy Committee (MPC) is expected to raise the benchmark interest rate again, following the third meeting of the year, in a bid to combat persistent inflation. Analysts have predicted a one percentage point hike to 25.75%, while Cowry Asset Management Limited expects a 0.75% to 1% increase. However, some financial pundits believe the MPC will retain the Monetary Policy Rate, as inflation has begun to accelerate at a slower rate.
May 19, 2024
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