No pressure, Cardoso: CBN holds rate at 27.50%
- Nigeria's Central Bank maintains the benchmark interest rate at 27.50%.
- This decision marks the end of a rate-tightening cycle initiated in September 2023.
- The rate was previously hiked by over 800 basis points under President Bola Ahmed Tinubu.
While the decision to hold interest rates may provide temporary relief and align with market expectations, the underlying issues of high consumer prices and potential currency instability could pose significant risks to the economy. Further monitoring of inflation trends and their impact on the real economy will be crucial.
