Skip to main content

Naira’s decline increases chance of a rate hike

The sharp fall in the Nigerian naira today probably reflects reduced intervention by the central bank, and increases the probability that policymakers will raise interest rates later this month. We have pencilled in a 50 basis point hike that would take the Monetary Policy Rate to 12.50%.


Subscriber content

Read this in full, free

Start a free trial and use one of your 10 free starter credits to unlock this piece.


Free. 10 articles. No card required.

By completing this form you are agreeing to our Terms and Conditions for the provision of a free trial of Capital Economics' services. We take your privacy seriously and will not share your details with others without your consent. By providing your details, including your email address, you are consenting to Capital Economics sending you macroeconomic commentary and analysis. You can unsubscribe at any time. See our Privacy Policy for more information.