The image showcases Nigeria’s urban financial hub with tall buildings and vibrant city life.
Nigeria’s central bank has lowered its benchmark interest rate by 50 basis points to 26.50%, signaling growing confidence that inflation pressures are easing. Governor Olayemi Cardoso said the decision reflects a careful assessment of economic risks and expectations that the current disinflation trend will continue. Inflation edged down to 15.10% year-on-year in January from 15.15% in December, supported by exchange rate stability, improved food supply, and the delayed impact of earlier rate hikes. The move marks the first rate adjustment since November, when rates were held steady, and suggests authorities may be cautiously pivoting toward growth while still guarding against price instability in Africa’s largest economy.
CNBC Africa