Nigeria keeps policy rate at 27.5%
Bank makes second consecutive hold as inflation declines, and cites alarm over trade policy uncertainty
The Central Bank of Nigeria held its benchmark interest rate at 27.5% yesterday (May 20) for the second consecutive time.
The bank’s monetary policy committee (MPC) reached the decision unanimously after annual inflation fell from 24.23% in March to 23.71% in April.
In its statement on the decision, the bank said monthly inflation had declined from 3.9% to 1.86% over the same period, while annual core inflation had fallen from 24.43% to 23.39%. Food inflation also fell slightly from 21.79% to 21
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