Nigeria and Kenya will both leave monetary policy unchanged next week, a Reuters poll forecast, as inflation in the former is not yet tame enough while an interest rate cap in the latter limits policymakers’ room for manoeuvre.
JOHANNESBURG — Nigeria and Kenya will both leave monetary policy unchanged next week, a Reuters poll forecast, as inflation in the former is not yet tame enough while an interest rate cap in the latter limits policymakers’ room for manoeuvre.
Reuters
All 15 analysts polled this week said rates would be held at 14% in Nigeria and 10% in Kenya.
Nigerian inflation is slowing but remained high at almost 16% year-on-year in October while by contrast, Kenya is ripe for easing with annual inflation falling to 5,72% last month.
However, the Kenyan central bank is hamstrung by the cap imposed last year that limits commercial lending rates to 4 percentage points above its official rate.
