Cardoso says inflation, FX pressures to abate early 2025

The Central Bank of Nigeria (CBN) will deploy every possible ‘orthodox’ strategy to tame inflation, Governor Olayemi Cardoso said on Tuesday, with a firm assurance that ongoing monetary tightening measures will begin to yield positive results early next year. Cardoso spoke during a press conference in Abuja to announce the outcomes of the two-day meeting of the Monetary Policy Committee (MPC) which raised the Monetary Policy Rate (MPR) for the sixth time by 25 basis points to 27.50 percent. The rate raise is targeted at addressing rising inf