Nigeria’s central bank keeps main interest rate unchanged

ABUJA: Nigeria’s central bank held its benchmark lending rate at 27.50%, its governor Olayemi Cardoso said on Thursday.

The decision follows six rate hikes last year totaling 875 basis points to try to get inflation under control.

Earlier this week the statistics agency unveiled a much lower annual inflation rate of 24.48% in January after a rebasing exercise.

The naira currency has been relatively stable since December, potentially reassuring the central bank.