The Central Bank of Nigeria (CBN) kept interest rates on hold at 12.0% today in what was Godwin Emefiele’s first meeting as governor. Looking ahead, rising inflation suggests that policy tightening is needed, but this is unlikely to occur until after next year’s general election. For now, we expect interest rates to stay on hold over the next six months, but political pressures mean the near-term risks are skewed towards rate cuts.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services