Economy

Is Nigeria set for biggest rate cut since 2020, six economists polled by Bloomberg say yes.

Nigeria’s central bank is set to resume easing with its largest interest-rate cut since 2020 on Tuesday, as a stronger naira, moderating inflation and rising foreign-exchange reserves give policymakers room to shore up economic growth.


All six economists surveyed by Bloomberg expect Governor Olayemi Cardoso to lower the benchmark rate when he announces the monetary policy committee’s decision after 2 p.m. in Abuja.


The only disagreement is over the size of the move, with two economists forecasting a 50 basis-point cut and the rest expecting a 100 basis-point reduction, after policymakers unexpectedly held the benchmark rate at 27% in November.

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