Central Bank Of Nigeria To Raise Interest Rates Further, Following Large Hike In February
Country Risk / Nigeria / Wed 28 Feb, 2024
Key View
- We believe that the Central Bank of Nigeria (CBN) will raise the policy rate to 28.00% by end-2024, following a 400 basis-point hike to 22.75% in February, in a bid to address high inflation and weakness in the foreign exchange market.
- While we do not think that higher interest rates will lead directly to an increase in capital