Nigeria has increased its interest rates by 1 percentage points, from 12% to an annual rate of 13%.
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 October1th 2011, when the Central Bank increased interest rates by 2.75 percentage points to 12%.
Here we show you the progression of interest rates in Nigeria. You can see interest rates in other countries in interest rates and see all the economic information about Nigeria in Nigeria economy.