Nigeria Leaves Monetary Policy Unchanged


Nigeria’s central bank left the monetary policy rate unchanged at 13 percent at its March 24th meeting, as the current policy stance should be enough to anchor inflation expectations.

The naira lost more than 17 percent to the USD from November to March as declining oil prices and political tensions hurt investor’s confidence. In February of 2015, Nigerian inflation rate rose to 8.2 percent, the highest figure in 6 months, as a falling naira keep pushing imported food prices up. 

Africa's biggest economy and oil producer goes to the polls to elect a new president on March 28th, the fifth election since 1999 when the military handed over power to elected civilian.  Elections have been postponed (was originally scheduled for February 14) due to the inability of the military to keep the polls safe from the Boko Haram attacks.

Nigeria Leaves Monetary Policy Unchanged


Carolina Cunha | carolina.cunha@tradingeconomics.com
3/24/2015 3:25:03 PM