Higher
US interests have accelerated capital outflows and led to a drop in external
reserves while global trade tensions continue to weigh on sentiment. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
Rising
consumer prices amid pre-election spending remain another headache for the CBN,
while political uncertainties add to the equation of components complicating
any efforts to cut interest rates. http://www.tectono-business.com/2015/07/tectono-business-review-in-conjunction_21.html
With crude oil price volatility from US-China trade tensions presenting a
significant threat to Nigeria’s economic recovery, the CBN could maintain the
status quo for the rest of 2018.
While
a rate cut was initially seen as a strategy to support economic growth in
Nigeria, such a move may end up widening the divergence in monetary policy
between the Fed and CBN – ultimately accelerating capital outflows.
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