Nigeria central bank cuts policy rate to 23% from 26.50%
Nigeria’s central bank lowered its benchmark lending rate to 23% from 26.50% on Tuesday, saying the surprise cut aims to strengthen monetary policy transmission.
50% on Tuesday, in a surprise move it said was aimed at strengthening monetary policy transmission. All seven economists polled had expected the Central Bank of Nigeria to keep the rate unchanged (NGCBIR=ECI).