Connect with us

    Hi, what are you looking for?

    E-Financial

    CBN Slashes Rate by 50bps Amid Cooling Inflation, Stronger Naira

    FXTM Logo
    FXTM Logo
    By Mathew Anthony, Market Analyst at FXTM
    In another positive development for Nigeria, the CBN has proceeded with 50-basis points rate cut.
    CBN Slashes Rate by 50bps Amid Cooling Inflation, Stronger Naira

    FXTM Logo

    With favourable fundamental forces at play, it was always a question of how much rather than if rates will be cut in February.
    Although some were expecting a hefty 100-basis point cut, this was still a positive move by the CBN, mirroring the dovish strategy of other major banks on the continent.
    Interest rates were slashed thanks to cooling inflationary pressures, a stronger Naira and rising FX reserves.
    This move is likely to boost confidence over the economic outlook ahead of the Q4 GDP report scheduled for release later this month.

    Loading

    Spread the love
    Frank
    Written By

    Franklin Ugo Ndibe is a seasoned Nigerian journalist and media professional renowned for his incisive reporting and editorial leadership in the information and communications technology (ICT) sector.

    Click to comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    ad

    You May Also Like

    Sports

    FIFA has confirmed that a website checkout error resulted in dozens of fans receiving World Cup 2026 tickets without being charged. Football’s governing body...

    Tech

    The Federal Government has backed moves to deregulate Nigeria’s airtime credit and data advance market, a step aimed at increasing indigenous participation, promoting competition...

    News

    Nigerian Communications Commission (NCC) has appointed Princess Oforitsenere Emiko as Interim Chairman of the Governing Board of the Digital Bridge Institute (DBI). The appointment...

    Tech

    QNET, a global wellness and lifestyle-focused direct selling company, has taken note of media reports regarding the recent operation by the Nigeria Security and...