Central Banks
Nigeria Central Bank Maintains Hawkish Bias After Rate Hike
- Central bank is committed to curbing inflation: governor
- Bank raised key interest rate by 50 basis points to 26.75%
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The Central Bank of Nigeria lifted its key interest rate for a 12th straight time and said it remains committed to reining in inflation.
The monetary policy committee raised the benchmark rate by 50 basis points to 26.75%, Governor Olayemi Cardoso said at a press briefing in the capital, Abuja, on Tuesday. The median estimate of six economists in a Bloomberg survey was for a 75 basis-point increase to 27%.