Nigeria

Nigeria: Long-overdue rate hike is a major step in the right direction

  • The CBN hiked its policy rate by 400bps to 22.75%, corresponding to real rate of -7.15% ex-post and +2.75% ex-ante

  • Tighter policy will help support NGN but weak transmission mechanism means it must be followed by complementary measures

  • Equities look cheap and eurobonds look fairly valued with outperformance contingent on ongoing revival of reform efforts

February 27th, 2024
Subscribe to read this report

You can read this report by subscribing to a Starter or Pro plan today.

Already have an account? Log in

Disclosures

Tellimer is not authorised or regulated by any financial services regulator (including the Prudential Regulation Authority and the Financial Conduct Authority in the UK). Tellimer is a news and information service within the meaning of Article 54 of the Financial Services and Markets Act 2000 (Regulated Activities Order) 2001. The contents of this report are provided for information only and should not be regarded as invitation or inducement to engage in investment activity of any kind. Nothing in this article shall be construed as the giving of investment, tax legal or other advice by Tellimer or any other person.

As a User of the Tellimer Platform your Personal Data may be accessed by the Content Provider that Data for direct marketing. See Privacy Statement for more information.