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ABUJA: The Nigerian central bank's monetary committee voted unanimously on Tuesday to hold its benchmark interest rate at 13.5pc because key macroeconomic indicators were "trending in the right direction", governor Godwin Emefiele said.

Most analysts polled by Reuters had predicted no change, though they said the central bank would probably ease in September.

The central bank also left the benchmark rate at 13.5pc at its previous meeting in May after a surprise cut of 50 basis points in March.

Emefiele said that rate cut was part of an attempt to stimulate growth in Nigeria, Africa's largest economy, and to signal a "new direction".

Copyright Reuters, 2019

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