Nigerian central bank further raises interest rate to over 26 pct

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Nigerian central bank further raises interest rate to over 26 pct

STORY: Nigerian central bank further raises interest rate to over 26 pct SHOOTING TIME: May 22, 2024 DATELINE: May 23, 2024 LENGTH: 00:01:09 LOCATION: Abuja CATEGORY: ECONOMY SHOTLIST: 1. various of a busy street in Nigeria 2. various of the central bank building 3. various of press briefing by central bank officials 4. SOUNDBITE (English): YEMI CARDOSO, Governor of the Central Bank of Nigeria STORYLINE: Nigeria's central bank on Tuesday further raised the benchmark interest rate, pushing it by 150 basis points to 26.25 percent, in a move to combat the country's persistent inflation. This latest hike marks a continuation of Nigeria's aggressive monetary tightening strategy aimed at stabilizing the economy. It is the third consecutive one this year, since February, to raise the baseline interest rate known as the monetary policy rate. Yemi Cardoso, governor of the Central Bank of Nigeria, who chairs the Monetary Policy Committee, told the media at the end of a meeting in the capital of Abuja that th

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