Analysis by Region - Emerging Markets - Nigeria
Nigeria’s monetary authorities again voted to lift the key policy rate by 50 bps to 27.25%. We had predicted that interest rates would in fact be left unchanged. The central bank governor vehemently reiterated the committee’s pledge to attain domestic price stability. With real interest rates remaining negative despite lower CPI inflation in July and August, we think the MPC will consider another rate hike in November, raising interest rates by 50 bps. That said, we remain confident that the latest tightening cycle is drawing to a close.
- Nigeria: Woods' edge still not in sight for monetary authorities
- Forecast overview
- Recent developments
- Short-term outlook
- Key drivers of our short-term forecast
- Economic risk
- Economic risk evaluation
- Background
- Economic development
- Structure of the economy
- Balance of payments
- Policy and politics
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