Nigeria has increased its interest rates by 1 percentage points, from 15.5% to an annual rate of 16.5%.
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 September28th 2022, when the Central Bank increased interest rates by 1.5 percentage points to 15.5%.
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.