The Central Bank of Nigeria is poised to increase its benchmark interest rate to 24.75%, according to a recent Reuters poll. This move comes as the central bank aims to address rising inflation and stabilize the country's economy.
The decision to raise the benchmark rate reflects the central bank's commitment to managing inflationary pressures and maintaining price stability. Inflation in Nigeria has been on the rise in recent months, driven by factors such as supply chain disruptions and increased food prices.
