{"id":873,"date":"2022-06-05T10:17:02","date_gmt":"2022-06-05T10:17:02","guid":{"rendered":"https:\/\/citywatch.ng\/nigeria-interest-rate-raised-to-13-first-hike-in-6-years-to-curb-inflation-bloomberg\/"},"modified":"2022-06-05T10:17:02","modified_gmt":"2022-06-05T10:17:02","slug":"nigeria-interest-rate-raised-to-13-first-hike-in-6-years-to-curb-inflation-bloomberg","status":"publish","type":"post","link":"https:\/\/citywatch.ng\/?p=873","title":{"rendered":"Nigeria Interest Rate Raised to 13%, First Hike in 6 Years to Curb Inflation – Bloomberg"},"content":{"rendered":"

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Ruth Olurounbi<\/a>
Nigeria’s central bank unexpectedly raised its benchmark interest rate for the first time in almost six years to curb accelerating inflation and boost portfolio inflows.
The monetary policy committee voted to hike the rate by 150 basis points to 13%, Governor Godwin Emefiele said Tuesday in a televised briefing in the capital, Abuja. That’s the first increase since July 2016. Only two of 10 economists in a Bloomberg survey forecast an increase — one by 25 basis points and the other by 50 basis points.<\/p>\n

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Climate change is the defining story of our time. Bloomberg Green brings you the news, science, and data to understand it in full. Every week, Bloomberg’s Kailey Leinz speaks to thought leaders and innovators, while our reporters around the globe bring you the stories of a changing planet. Issues, data, solutions, — this is Bloomberg […]<\/p>\n","protected":false},"author":1,"featured_media":874,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[],"class_list":["post-873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nNigeria Interest Rate Raised to 13%, First Hike in 6 Years to Curb Inflation - Bloomberg - City Watch<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/citywatch.ng\/?p=873\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria Interest Rate Raised to 13%, First Hike in 6 Years to Curb Inflation - Bloomberg City Watch\" \/>\n<meta property=\"og:description\" content=\"Nigeria Interest Rate Raised to 13%, First Hike in 6 Years to Curb Inflation - Bloomberg City Watch %\" \/>\n<meta property=\"og:url\" content=\"https:\/\/citywatch.ng\/?p=873\" \/>\n<meta property=\"og:site_name\" content=\"City Watch\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/web.facebook.com\/profile.php?id=100083282987806\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-05T10:17:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/citywatch.ng\/wp-content\/uploads\/2022\/06\/wp-header-logo-30.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Editor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Editor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/citywatch.ng\/?p=873#article\",\"isPartOf\":{\"@id\":\"https:\/\/citywatch.ng\/?p=873\"},\"author\":{\"name\":\"Editor\",\"@id\":\"https:\/\/citywatch.ng\/#\/schema\/person\/6f3e02bc6483df72f5abc6e9624d0cc8\"},\"headline\":\"Nigeria Interest Rate Raised to 13%, First Hike in 6 Years to Curb Inflation – Bloomberg\",\"datePublished\":\"2022-06-05T10:17:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/citywatch.ng\/?p=873\"},\"wordCount\":432,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/citywatch.ng\/#organization\"},\"image\":{\"@id\":\"https:\/\/citywatch.ng\/?p=873#primaryimage\"},\"thumbnailUrl\":\"https:\/\/citywatch.ng\/wp-content\/uploads\/2022\/06\/wp-header-logo-30.png\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/citywatch.ng\/?p=873#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/citywatch.ng\/?p=873\",\"url\":\"https:\/\/citywatch.ng\/?p=873\",\"name\":\"Nigeria Interest Rate Raised to 13%, First Hike in 6 Years to Curb Inflation - Bloomberg - City Watch\",\"isPartOf\":{\"@id\":\"https:\/\/citywatch.ng\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/citywatch.ng\/?p=873#primaryimage\"},\"image\":{\"@id\":\"https:\/\/citywatch.ng\/?p=873#primaryimage\"},\"thumbnailUrl\":\"https:\/\/citywatch.ng\/wp-content\/uploads\/2022\/06\/wp-header-logo-30.png\",\"datePublished\":\"2022-06-05T10:17:02+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/citywatch.ng\/?p=873#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/citywatch.ng\/?p=873\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/citywatch.ng\/?p=873#primaryimage\",\"url\":\"https:\/\/citywatch.ng\/wp-content\/uploads\/2022\/06\/wp-header-logo-30.png\",\"contentUrl\":\"https:\/\/citywatch.ng\/wp-content\/uploads\/2022\/06\/wp-header-logo-30.png\",\"width\":1200,\"height\":675},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/citywatch.ng\/?p=873#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/citywatch.ng\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Nigeria Interest Rate Raised to 13%, First Hike in 6 Years to Curb Inflation – Bloomberg\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/citywatch.ng\/#website\",\"url\":\"https:\/\/citywatch.ng\/\",\"name\":\"City Watch\",\"description\":\"People . 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