The MPC has left the benchmark rate unchanged at 12% p.a. following an increase in inflation rate to 12.9% in April.
The CBN had predicted Nigeria ’s inflation rate will increase to 14.5% before decelerating in the latter part of 2012. Is this a trend or a point of inflection?
In addition to this, is the emergence of the first socialist French president in 18 years. This has significant political and economic implications on the euro zone and most especially on the African francophone countries.
This month’s FDC economic bulletin discusses the impact of these events on Nigeria .