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Nigerian Interest Rate Cuts Hide Deeper Risk

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 26, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    In a sign that the recent stimulatory policy has failed, the Central Bank of Nigeria (CBN) has cut their benchmark interest rates by over 200 basis points. However, the rate cut could just be the tip of the ice berg as the Nigerian economy faces a self-imposed, diminished growth environment. It is largely no surprise that the central bank has been forced into action given the recent schizophrenic fiscal policy, including capital controls, undertaken by the national government. February saw the

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