Nigeria has room to lower interest rates-Okonjo-Iweala

Nigeria has room to lower interest rates but still keep inflation in single-digits, the finance minister said on Monday, despite the central bank saying last week that the recent trend of monetary tightening may not be over. The Central Bank of Nigeria (CBN) kept its benchmark interest rate on hold at 12 percent last week, bringing to an end six rate hikes running as the regulator looked to support the weakening naira currency and curb high inflation. CBN Governor Lamido Sanusi said that although monetary tightening had been paused this month the CBN was willing to step in again if inflation or exchange rate pressures returned.Add your comment
Click here to read full news..