Nigerian central bank surprises with another rate hike
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The Central Bank of Nigeria hiked by 100bps to 14% amid a continued rise in inflation, which reached 18.6% yoy in June
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There has also been a recent rise in market yields, which could begin to tamp down on demand-side pressures
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However, structural impediments to policymaking will remain until the removal of Governor Emefiele (term ends May 2024)
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This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").
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