CBN rate cut will shrink banks’ profits – Moody’s

Global ratings agency Moody’s Investors Service has warned that Nigeria’s banking sector may face renewed profitability pressures following the Central Bank of Nigeria’s reduction of its benchmark Monetary Policy Rate from 27.5 per cent to 27 per cent. The CBN attributed the 50-basis-point cut to continued disinflation, expectations of further declines in inflation, and the […]