Nigeria Central Bank Faces Record-Inflation and No Growth: Chart

Nigerian policy makers will have to find a balance between inflation, which accelerated to the highest rate in more than a decade last month, and an economy projected to contract this year for the first time since 1991. Of the 17 economists surveyed by Bloomberg, eight forecast the benchmark rate will stay unchanged at 14 percent, one predicted a 100 basis point cut, and the rest said policy will be tightened by between 50 basis points and 200 basis points. The Central Bank of Nigeria is due to announce its decision at 2 p.m. in Abuja on Tuesday.

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