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Top related persons:
Olayemi Cardoso - 2 David Omojomolo - 2 Cardoso's - 1 Samuel Alabi - 1 Bola Tinubu's - 1
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Africa IBADAN Nigeria Ibadan Getty Images Nigeria Africa's LAGOS Lagos
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Capital Economics - 2 Central Bank of Nigeria - 1 CBN - 1 MPC - 1 Afp - 1 Getty Images - 1 International Monetary Fund - 1 U.S - 1

Search resuls for: "David Omojomolo"


2 mentions found


☆ Nigeria's central bank hikes interest rate to 24.75% as it battles sky-high inflation, currency crisis
  + stars: | 2024-03-26 | by ( Elliot Smith | ) www.cnbc.com   time to read: +2 min
The Central Bank of Nigeria on Tuesday hiked its key interest rate by 200 basis points, as Africa's largest economy looks to recover from a historic currency crisis and soaring inflation. The CBN announced that its main monetary policy rate would rise to 24.75% from 22.75%, in its second consecutive hike after February's 400 basis point increase. Governor Olayemi Cardoso told a press conference that policymakers believed they need to continue tightening in order to tame runaway inflation, according to Reuters. "That may be a sign that some MPC members are concerned about the impact on growth from tighter monetary policy," he suggested in a note on Tuesday. Capital Economics expects further tightening, given Governor Cardoso's need to bring down the curtain on the country's inflation and currency crises.
Persons: Olayemi Cardoso, David Omojomolo, Cardoso's Organizations: Central Bank of Nigeria, CBN, Reuters, Capital Economics, MPC Locations: Africa
☆ Nigeria battles to halt spiraling currency crisis and rising food insecurity
  + stars: | 2024-03-05 | by ( Elliot Smith | ) www.cnbc.com   time to read: +3 min
IBADAN, Nigeria - Feb. 19, 2024: Demonstrators hold placards during a protest against the hike in price and hard living conditions in Ibadan on February 19, 2024. Inflation hit an annual 29.9% in January, driven by soaring food prices that have triggered a cost-of-living crisis in Africa's largest economy. The naira currency, meanwhile, plunged to an all-time low of around 1,600 against the U.S. dollar in late February. "With about 8 percent of Nigerians deemed food insecure, addressing rising food insecurity is the immediate policy priority." IBADAN, Nigeria - Feb. 19, 2024: Demonstrators are seen at a protest against the hike in price and hard living conditions in Ibadan on February 19, 2024.
Persons: Samuel Alabi, Bola Tinubu's, David Omojomolo, Olayemi Cardoso Organizations: Afp, Getty Images, International Monetary Fund, U.S, Bloomberg, Getty, Washington, D.C, IMF, Central Bank of, Capital Economics Locations: IBADAN, Nigeria, Ibadan, Getty Images Nigeria, Africa's, LAGOS, Lagos, Africa
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