Nigeria combats inflation with 50bp hike

The Central Bank of Nigeria's rate-setting board voted on Tuesday to raise rates by half a percentage point to 9.5% in a bid to fight inflation.

Headline inflation rose from 4.1% in September to 4.6% the following month. The acceleration reflected increases in the prices of utilities, transport, hotel, tourism and education, the central bank said. Staff projections predicted inflation would climb to 6.8% in November and 7.3% this month as a result of year-end demand pressures.

Fiscal spending

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: