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CBN faces rate-cut calls amid stubborn inflation risks

Pressure is mounting on the Central Bank of Nigeria (CBN) to resume monetary easing as businesses and households grapple with stubborn inflation, high borrowing costs and weak consumer demand ahead of the decision of the Monetary Policy Committee (MPC) meeting on Wednesday. Although inflation remains elevated, a growing number of Nigerians now favour lower interest rates, arguing that tight monetary conditions are worsening economic hardship and constraining business activity. [...]