Expect borrowing cost to remain high in Nigeria, businesses told

Nigeria

Nigeria plans to continue hiking its benchmark interest rate until it closes the gap with accelerating inflation in Africa’s largest economy. The nation’s central bank raised rates for the fourth time in a row to 16.5% from 15.5% on Tuesday in a bid tame inflation, which rose to a 17-year high of 21.1% in October. […]

read more Expect borrowing cost to remain high in Nigeria, businesses told