Nigeria Seen Cutting Rates as Inflation Nears Tinubu’s Year-End Target

The Central Bank of Nigeria is poised to extend its easing cycle after softer-than-expected inflation brought it closer to the government’s year-end target.

All seven economists in a Bloomberg survey expect the monetary policy committee to lower the benchmark rate again at its final meeting of the year, differing only on the size of the move. Four predict a half-point reduction to 26.5%, while the rest see a full percentage-point cut when Governor Olayemi Cardoso announces the decision shortly after 2 p.m. in Abuja.