Fixed-income, equities markets see sell-off after rate hike

The 25 basis points hike by the Central Bank of Nigeria (CBN) monetary policy committee (MPC) resulted in a sell-off across both fixed-income and equity markets, as investors grapple with the implications of tighter monetary conditions. The Central Bank of Nigeria concluded its final policy meeting of the year by raising the Monetary Policy Rate (MPR) by 25 basis points to 27.5 percent, the highest in recent years. This marks the sixth rate hike in 2024 and is aimed at tackling persistently high inflation, which rose to 33.88 percent in O