Rate cut positive for markets, analysts say

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Nigeria's central bank cut its benchmark interest rate from 26.5% to 23% to boost monetary policy effectiveness and support inflation targeting. Analysts view the rate cut positively for Nigerian markets, signaling potential economic stabilization.

In a surprise move on Tuesday, the CBN, at the end of its rate-setting meeting, pared down the benchmark rate to 23 per cent from 26.5 per cent, a push Olayemi Cardoso, the bank’s governor, called “an operational reset” to improve the effectiveness of monetary policy and aid the shift to an inflation-targeting framework. The post Rate cut positive for markets, analysts say appeared first on Premium Times Nigeria.