Trading on the Nigerian Exchange ended lower on Monday, with total market capitalisation slipping to N160.85 trillion. The dip landed on the same day the Central Bank of Nigeria announced it would hold its monetary policy rate where it is. Keeping the rate unchanged means borrowing costs stay put, which gave traders little fresh signal to react to. Sellers outweighed buyers through the session and dragged the overall value of listed companies down with them. Rate decisions carry outsized weight on Nigerian markets because interest costs sit close to the fortunes of banks and heavily indebted firms. Attention now shifts to corporate earnings and to whatever hints the central bank drops about its next meeting.