CBN lowers inflation target to 6-9 per cent

The Central Bank of Nigeria (CBN) says it wants inflation in a range between 6-9 per cent, lowering the regulator’s previous target of keeping in single-digits.

CBN’s governor, Lamido Sanusi, told Reuters on Wednesday, he expects it to finish the year below that level...Inflation in Nigeria fell to a fresh five-year low of 8 per cent in September.

Sanusi added that despite lower prices he did not think there was likely to be an interest rate cut in the near future.