Macro Analysis /
Nigeria

Central Bank of Nigeria makes dovish shift and affirms FX unification

  • CBN decides unanimously to hold rates versus split decision in March (with 3 of 9 voting to hike)

  • Drop in inflation and weak growth numbers informed shift, with CBN continuing to prioritise growth and FX stability

  • CBN likely to hold rates through year-end but may continue backdoor tightening; official FX rate also unified with Nafex

Central Bank of Nigeria makes dovish shift and affirms FX unification
Patrick Curran
Tellimer Research
25 May 2021
Published byTellimer Research

Watchlist

Tellimer | Start Following

Start following your markets today

Follow your key analysts, markets and more so they appear here in your Watchlist - allowing you to keep an eye on the latest updates.