Nigeria Holds Rate, Signals Tight Policy Until Risks Recede

Nigeria’s central bank kept its benchmark interest rate unchanged and signaled it will maintain a tight monetary policy stance until inflation risks subside.

The 12-member monetary policy committee maintained the benchmark rate at 27.5%, Governor Olayemi Cardoso said at a briefing in the capital, Abuja, on Tuesday. That matched the prediction of all seven economists in a Bloomberg survey.