Nigeria’s Central Bank Chief Faces Biggest Test Yet in Rate Call – Bloomberg
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Americas+1 212 318 2000
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Asia Pacific+65 6212 1000
Nigerian central bank Governor Olayemi Cardoso faces a critical test when he delivers his first interest-rate decision since taking office, with investors craving bold action amid public fury over the surging cost of living.
The naira has plunged almost 70% against the dollar and inflation is near a three-decade high. As a result, economists surveyed by Bloomberg expect Cardoso to announce a 250 basis-point hike to 21.25% later on Tuesday. He will begin discussing the monetary policy committee’s deliberations around 2 p.m. in Abuja (1 p.m. GMT).
