Nigeria: Inflation too high, naira to depreciate as firms expect borrowing rate to rise — CBN’s BES

In the July edition of the Central Bank of Nigeria ( CBN) Business Expectation Survey (BES), respondent firms opined that the inflation rate is too high and that they expect the naira to depreciate and borrowing Rate to rise in the review period.

The CBN National BES, released on Wednesday, August 21, 2024, revealed that Nigeria’s macroeconomic confidence index declined for a third consecutive month to 0.1 in July 2024 from 3.1, 8.5 and 21.9 in the past three months.

The July…