Nigeria has increased its interest rates by 2.00 percentage points, from 12.00% to an annual rate of 14.00%.
The key rates a tool used by Central Banks to implement monetary policy.
An increase in interest rates is used to slow down inflation and protect the currency. .
This change is the first to have taken place since on March1th 2016, when the Central Bank increasedinterest rates by 2.00 percentage points to 12.00%.