Nigeria Holds Rate at Record High as Inflation Persists

Nigeria’s central bank held its key interest rate at a record high level as it sees inflationary pressures persisting even as prices are becoming more stable, it said.

The Monetary Policy Committee maintained the benchmark rate at 14 percent, Governor Godwin Emefiele told reporters Thursday in the capital, Abuja. The median estimate in a Bloomberg survey was for the rate to be held at that level.