The Central Bank Governor said Friday that he won't raise interest rates to counteract inflation driven upward by the end of a fuel-subsidy programme, as violent insurgents and a weak global economy threaten growth in one of Africa's most dynamic economies.
“The removal of subsidies will have an impact on inflation, that's a foregone conclusion,” Central Bank of Nigeria Governor, Sanusi Lamido Sanusi told Dow Jones Newswires. “But is a response an increase in rates? No.”The central bank raised its main interest rate six times last year .