Nigeria's central bank kept its key lending rate unchanged at 26.50% on Wednesday, with Governor Olayemi Cardoso saying a cautious and vigilant stance was needed to anchor inflation expectations and safeguard macroeconomic stability.
Most economists polled by Reuters had predicted the Central Bank of Nigeria would leave the rate unchanged.
The decision follows an interest rate cut at the central bank's last policy meeting in February, when it lowered its key rate by 50 basis points.
Headline inflation edged up for the second month running in April, as the US-Israeli war against Iran pushed up domestic fuel prices, which fed through into food costs.
EMAIL THIS ARTICLE SAVE THIS ARTICLE FEEDBACK
To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here
