Nigeria’s headline inflation accelerated to a higher-than-expected 31.7% y/y in February and the naira’s latest sharp falls mean it will continue to march towards 35% y/y over the coming months. For now, the CBN probably feels it has done enough after last month’s large interest rate hike but further upside inflation surprises may force it to deliver a bit more tightening.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.