Nigeria bond yields rise after CBN rate hike

Nigeria bond yields rise after CBN rate hike

Yields on Nigeria’s benchmark 20-year bond rose 55 basis points to 12.7 percent in early Wednesday trade after the central bank unexpectedly tightened monetary policy to curb inflation after cutting interest rates only four months ago, traders said. The central bank on Tuesday raised its benchmark rate to 12 percent from 11 percent and the…

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