Nigeria raises rates by 150 basis points as inflation surges

Virág Fórizs, Africa economist at Capital Economics, a research firm, said Nigeria’s central bank was “reluctantly hawkish” and forecast a lowering of interest rates early next year.

“He faces some significant economic challenges, including the need to put Kenya’s public debt on a sustainable footing. On this front, investors may welcome a Ruto presidency not least because he had...