Despite the Central Bank of Nigeria’s (CBN) decision to keep its benchmark interest rate unchanged, economic experts warn that Nigeria may be staring at a prolonged period of high borrowing costs, as stubborn inflation, rising geopolitical tensions and shifting global capital flows continue to threaten growth and cloud the economic outlook. At the end of …
The Centre for the Promotion of Private Enterprise (CPPE) has commended the Central Bank of Nigeria’s decision to keep interest rates unchanged, describing the outcome of the 305th Monetary Policy Committee (MPC) meeting as a balanced response to Nigeria’s inflation challenges. In a statement issued on Wednesday, May 20, Chief Executive Officer of CPPE, Dr …
Minister of Finance and Coordinating Minister of the Economy Wale Edun has indicated that Nigeria could see interest rate cuts in the near term if the current disinflation trend is sustained. Speaking in an interview on the sidelines of Abu Dhabi Sustainability Week, Edun said a continued slowdown in inflation would give the Central Bank …
The Central Bank of Nigeria (CBN) has reported that seven subsectors recorded mild contractions in economic activities in November. It revealed this in its Purchasing Managers’ Index (PMI) report for November. It stated that the composite PMI expanded to 56.4 index points in November, compared to 55.4 index points in October. A reading of the …
The Central Bank of Nigeria (CBN) on Tuesday decided to hold the benchmark interest rate, known as the monetary policy rate (MPR), at 27 per cent to rein in inflation. The apex bank took the decision at its 303rd Monetary Policy Committee (MPC) meeting, which concluded on Tuesday, November 25. Briefing newsmen after the 2-day …
