Nigeria holds rates at 27% to cement inflation wins
- Nigeria's central bank retained the benchmark interest rate at 27% to safeguard inflation gains.
- The decision rules out further rate adjustments until at least 2026.
- Headline inflation in Nigeria slowed to 16.05% in October, the lowest since March 2022.
While the decision to maintain interest rates may stabilize inflation in the short term, the underlying economic fragility raises concerns. Policymakers must balance price stability with the need for growth, especially as rising costs in other sectors could undermine consumer confidence.
