Nigeria’s central bank ‌kept its key lending rate unchanged at 26.50% this Wednesday, ​with Governor Olayemi Cardoso ​saying a cautious and vigilant ⁠stance was needed to ​anchor inflation expectations and safeguard ​macroeconomic stability.

Most economists polled by Reuters had predicted the Central Bank of ​Nigeria would leave the ​rate unchanged.

The decision follows an interest ‌rate ⁠cut at the central bank’s last policy meeting in February, when it lowered its key ​rate by ​50 ⁠basis points.

Headline inflation edged up for the second ​month running in April, ​as ⁠the United States-Israeli war against Iran pushed up domestic fuel ⁠prices, ​which fed through ​into food costs.

–Reuters–