Economics
Nigeria Hikes Key Rate to Three-Year High With More to Come
- Decision to increase interest rates was unanimous: Emefiele
- Inflation rate in Nigeria at highest in five-and-a-half years
A trader selling onions at the Mile 12 food market in Lagos, Nigeria.
Photographer: Damilola Onafuwa/BloombergThis article is for subscribers only.
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Nigeria’s central bank increased its key interest rate at successive meetings for the first time in more than a decade and signaled even higher borrowing costs, escalating its response to curb accelerating inflation.