Nigeria raises interest rates to 22.75% in first meeting since July

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

Nigeria’s central bank sharply raised interest rates to 22.75 per cent at its first meeting since July as Africa’s most populous country hopes to contain its most severe economic crisis in almost three decades.

The bank lifted its key rate by 400 basis points as it seeks to combat soaring food and fuel prices that…