Nigeria’s Cardoso Says Inflation Cooling, Naira Undervalued
Central Bank of Nigeria Governor Olayemi Cardoso said inflation will moderate this year and described the country’s naira currency as “undervalued,” in his first public comments on the economy since November. “Inflationary pressures are expected to decline in 2024 due to the CBN’s inflation-targeting policy, which aims to rein in inflation to 21.4%,” Cardoso told an event Wednesday hosted by the Nigerian Economic Summit Group.
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