Nigeria's Central Bank Agrees To Reduce Interest Rates
The central bank cut its benchmark interest rate to 13.5% from 14% as part of an attempt to stimulate growth. The cut is the first by the Monetary Policy Committee, since the central bank decided in July 2016 to pursue a tight monetary policy to bring stability to the financial market and stimulate growth in the economy.
Nigeria naira
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Nigeria:
CBN Tweaks 32-Month-Old Policy Rate, Opts for Growth
Guardian, 27 March 2019
The Central Bank of Nigeria (CBN) yesterday took local and international investors by surprise, cutting the 32-month-old Monetary Policy Rate (MPR) by 0.5 per cent to 13.5 per… Read more »
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Nigeria:
Why CBN Reduced Monetary Policy Rate to 13.5% - Emefiele
Premium Times, 26 March 2019
The Central Bank of Nigeria (CBN) said the decision of its monetary policy committee (MPC) to slash tits controlling lending rate in the country was to establish the foundation for… Read more »
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Nigeria:
Reducing MPR to 13.5 Percent Too Low to Impact Economy - Don
Vanguard, 27 March 2019
Prof. Sheriffdeen Tella, a Senior Economist at Olabisi Onabanjo University, Ago-Iwoye, Ogun, has said that the marginal reduction in the lending rate to 13.5 per cent was too low… Read more »
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Nigeria:
Experts Commend CBN for Cutting Lending Rate to 13.5%
Premium Times, 27 March 2019
Two financial experts, Samuel Nzekwe and Titus Okurounmu, on Wednesday commended the Central Bank for reducing the benchmark lending rate from 14 per cent to 13.5 per cent. Read more »