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INTEREST RATE HIKES
In a chartered room on the 14th floor of the NASDAQ Building in Times Square, New York, sat a high-powered mix of global finance heavyweights, investors from JP Morgan, Standard Chartered, and other top institutions.
The Central Bank of Nigeria's (CBN) October 2024 Inflation Expectations Survey (IES) has revealed a strong desire among Nigerians for lower interest rates, with 76% of respondents advocating for a rate reduction.
Manufacturing companies in Nigeria reduced their debt burden by N1.62 trillion between February and June 2024.
The Central Bank of Nigeria should pause interest rate hikes to relieve the pressures on the supply side affecting inflation.
Interest rate hikes from the U.S. Federal Reserve and other central banks are likely to worsen a global...