Tag: Reasons why Nigeria cut key interest rate for the first time since 2020
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Reasons why Nigeria cut key interest rate for the first time since 2020
The Central Bank of Nigeria (CBN) cut its benchmark interest rate by 50 basis points to 27% on September 23, marking its first rate cut in five years. The move comes after a long tightening cycle aimed at curbing runaway inflation. Inflation, which averaged 31% in 2024, fell to 20.1% in August, its fifth straight…
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