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Nigeria's central bank cuts benchmark lending rate to 11.5%

Published 22/09/2020, 14:49
Nigeria's central bank cuts benchmark lending rate to 11.5%

LAGOS, Sept 22 (Reuters) - Nigeria's central bank cut its
benchmark lending rate on Tuesday by 100 basis points to 11.5%,
its governor, Godwin Emefiele, said.
In May, the bank unexpectedly cut the rate by 100 basis
points to 12.5% from 13.5%, which was the largest rate cut since
2015. The bank's monetary policy committee voted to hold the
rate at its last meeting in July.

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