Economists and policy experts have raised concerns over the Central Bank of Nigeria‘s recent decisions regarding the benchmark interest rate and other monetary policy issues in the country.
The Central Bank of Nigeria’s Monetary Policy Committee on Tuesday raised its benchmark lending rate to 17.5 per cent in an aggressive push to contain the nation’s inflationary pressure.The committee in November had raised its rate to 16.5 per cent in a sustained push to control inflation and ease pressure on the naira.
However, some experts have warned the CBN to resist the urge to continually increase the rate in its bid to fight inflation.
