Nigeria's central bank lowered its monetary policy rate for the first time in 3-1/2 years, noting "with great satisfaction" the continued decline in inflation, the stability of the naira's exchange rate, a robust level of reserves and positive forecasts for economic growth in 2019.
Nigeria's central bank left its monetary policy rate steady at 14.0 percent, as expected, saying loosening its policy could lead to a fall in the exchange rate of the Naira while tightening policy would result in a loss of the gains achieved in lowering inflation, raise the cost of credit, dampen investments and hamper improvements in output at a time of fragile economic growth.
THE federal government has raised $2.86 billion Eurobond under its Global Medium Term Note Programme to fund the 2018 budget deficit.
Fitch Ratings has assigned Nigeria's upcoming senior unsecured US dollar-denominated notes an expected rating of 'B+(EXP)'.
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