Nigeria lowers rates after three-year hiking cycle
Central bank says disinflation gives it room for cuts to support economic recovery
The Central Bank of Nigeria (CBN) has cut interest rates by 50 basis points to 27% in its first easing of policy since the Covid-19 pandemic.
In a statement on September 23, the CBN said the decision reflected its projection that the disinflation seen in recent months would continue for the remainder of 2025, along with a need to support the country’s economic recovery.
The last time the CBN lowered rates was in September 2020, when it eased by one percentage point to 11.5%. It held policy steady
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