CBN faces hurdle as U.S. interest rate rise expected to impact Nigeria, others
A 0.5 percentage points interest rate hike announced by the United States’ Federal Reserve on Wednesday is expected to reverberate around the globe and spur Nigeria and other economies to hike rates in the coming weeks.
The U.S. Fed raised its benchmark interest rate to a target rate range of between 0.75% and 1% on Wednesday, the largest hike in 22 years. The decision follows a 0.25 percentage point increase in March, the first increase since December 2018.
Analysts say that rate rises…