Nigeria Interest Rate Raised to 13%, First Hike in 6 Years to Curb Inflation – Bloomberg

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 Green.
Insight and analysis of top stories from our award winning magazine “Bloomberg Businessweek”.
Over the past 40 years, the fishing village of Shenzhen has been reborn as a futuristic metropolis bursting with factories. Bloomberg Businessweek’s Ashlee Vance travels to the heart of China’s tech revolution to witness this new reality firsthand.
Saudi Wealth Fund to Take $185 Million Jordanian Bank Stake
Philippine Volcano Spews Ash And Steam, Alarms Villagers
HK Reports 515 New Daily Covid Cases, Highest Tally in 6 Weeks
Denmark’s Prime Minister Says She’s Open to a Grand Coalition
Former Trader Turns High School Math Team Into Wall Street Pipeline
Boring is Better for Top-Performing 401(k) Retirement Funds
MTV Movie & TV Awards Return Sunday; ‘Spider-Man’ Leads Noms
Revellers Marvel at Being ‘Part of History’ at Buckingham Palace Concert
Western ‘Unity’ Is Making the Ukraine War Worse
Italy’s Romance with Meritocracy Has Been On-Again, Off-Again
What About That Anti-Semitic Pig on Martin Luther’s Church?
Oz Won by Ditching the Oprahverse for Trump and Planet Hannity
Sheryl Sandberg’s ‘Lean In’ Missed What Most Women Needed
NRA Lobbying Curbs Research That Can Prevent Gun Violence Deaths
Activision Retaliated Against Staff, Union Complaint Claims
McDonald’s Franchise to Face Trial in Teen’s Sex Harassment Suit
South Africa’s Sibanye Gold Mine Workers Plan to End Strike as Wage Deal Reached
Tropical Storm Alex, 1st of Season, Forms in Gulf of Mexico
Miami Awash From Flooding Rain as Storm Threatens Records
Discovering a New City, One Space Invader at a Time
The New LaGuardia Is Haunted by the Mistakes of its Past
LA Crime Targeting Rich Shifts Mayor Race to Billionaire Caruso
Lunatics See Meager Gains Since Relaunch of Failed Crypto Token
New York Crypto Mining Moratorium Bill Goes to Hochul
Who Owns Crypto in Congress?
Ruth Olurounbi
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.

source