March 26, 2019 / 1:34 PM / a month ago

Nigeria's central bank cuts benchmark lending rate to 13.5 pct

ABUJA, March 26 (Reuters) - Nigeria’s central bank cut its benchmark interest rate to 13.5 percent from 14 percent, its governor said on Tuesday, following a meeting of its Monetary Policy Committee.

The move is the first rate cut in more than two years in Africa’s biggest economy. Most analysts polled by Reuters in January expected rates to be kept on hold through to the middle of the year at least. (Reporting by Chijioke Ohuocha; Writing by Alexis Akwagyiram, Editing by William Maclean)

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