Bond yields fall, naira eases on black market on rate cut

Bond yields fall, naira eases on black market on rate cut

Yields on Nigeria’s bonds fell below 10 percent across maturities as trading started on Wednesday, traders said, a day after the central bank announced a surprise interest rate cut aimed to stimulate lending in Africa’s biggest economy. Nigeria’s central bank cut benchmark interest rate to 11 percent from 13 percent on Tuesday, its first reduction…

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