Nigeria's central bank has raised its key interest rate by 150 basis points to 26.25% from 24.75%, marking the third hike this year. This decision, announced on May 21, comes amid a sharp slump in the Nigerian naira and inflation reaching a 28-year high of 33.69% year-on-year in April. The central bank's move aims to curb persistent inflation and stabilize the nation's currency. The naira has depreciated by 5% following increased liquidity from central bank interventions. Commercial bank lending rates have also risen above 30%, reflecting the broader economic challenges facing Nigeria.
Nigeria central bank delivers another big hike, third this year https://t.co/mOgBSXpzew https://t.co/hxrAmtfUYl
What are your thoughts on the decision of the CBN to raise interest rate to 26.25% amidst soaring inflation levels?
Nigeria's inflation vs interest rates: https://t.co/aXSBJhoHee https://t.co/69Yyn83db7
Nigeria central bank interest rates: 26.25%. Inflation rate 29.90%. Commercial bank lending rates 30%+ Naira/USD -38.69% YTD. Now you understand why the Nigerian government is banning Bitcoin? Distressed economies don't want your savings to exit. They want to shut the door and…
Nigeria Central Bank has raised rates by 150 bps to 26.25%. "The balance of risks suggests further tightening of policy to build on the benefits from previous hikes" A reminder that inflation hit a 28-year high of 33.69% YoY in April. https://t.co/rjfZ4joSxb
BREAKING: Central Bank Of Nigeria Raises Interest Rate To 26.25% Amid Rising Inflation | Sahara Reporters https://t.co/POhpUM92Xz https://t.co/zLTr6AkJC9
⚠️ NIGERIA'S CENTRAL BANK RAISES BENCHMARK RATE TO 26.25% Full Story → https://t.co/RvCzSszFCq Nigeria's central bank raised its benchmark lending rate by 150 basis points to 26.25% from 24.75%, in a decision announced on Tuesday. https://t.co/gyMctXNxJk
BREAKING: Again, CBN Jacks Up Interest Rate https://t.co/CsJLjIt8YO
Nigeria's central bank raised its key interest rate to a new record high to curb persistent inflation and boost the nation’s bruised currency https://t.co/IxHbgvy2SI
A sharp slump in the Nigerian naira since mid-April and 28-year high inflation will likely leave the monetary policy committee with little choice but to hike rates again https://t.co/aDsEDQqrxU
Naira Depreciates 5% After Central Bank Intervention Increases Liquidity https://t.co/e2eC86ETT8
More Pressure On Naira Ahead Possible Interest Rate Hike https://t.co/qMSpT6mtUq