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Nigerian Central Bank Keeps Key Policy Rate Unchanged at 14%
LAGOS (Capital Markets in Africa) – Nigeria left its benchmark interest rate unchanged for a fourth consecutive meeting to balance lifting the economy out of its worst slump in 25 years with fighting inflation that’s at almost double the government’s target. The Monetary Policy Committee held the key policy rate at 14 percent, Central Bank of Nigeria Governor Godwin Emefiele told reporters in the capital, Abuja, on Tuesday. That was in line with the forecast of all 17 economists surveyed by Bloomberg. While inflation in Africa’s…
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