Photographer: George Osodi/Bloomberg

Nigeria Cuts Benchmark Rate as African Peers Tighten Policy

  • Central bank seeks to support economy hurt by oil price drop
  • Liquidity boost will be targeted to job-creating industries

Nigeria’s central bank reduced its benchmark interest rate for the first time in six years, diverging from its counterparts in most of Africa that have tightened monetary policy in the face of weakening currencies.

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