What!


How do you intend to cool the economy. Now it becomes more expensive to borrow money, consumers will definitely refrain from making purchases and spending reduces. Yet fuel price is alarming.

This rate hike won't bring down pump price, will it?

Confused people making life unbearable for the masses with their terrible policies.

There is nothing good in austerity.

Na food we need

Let the masses breathe. Nigerian lives matter.

Na policies we go chop. Policies, policies every day. Who policy help

Agbadorians and BATists will throw a big party for this great news.

Una never see something.

OK. Very very soon. Cotonou will be the new UK, Canada and US.

All japa na japa.


But before we japa, this 18.75% interest rate must favour me and my family

The rate at which I've been getting first page today is worth celebrating.

Meanwhile it is evident that "She_ge Ban_za" has also caught up with nairaland warriors. No data to type rubbish.

Who also observed this?


Ronu unlimited

This not friendly to business

Life is a balance between rest and movement.

No problem.

Ayam not undastanding !

Izit dat money deposited accumulates 18.75% interest rate or I dunno

Nigeria is in soup

The effect of this policy:

1. Borrowing becomes costlier: Poor individuals who rely on loans or credit for various needs may face higher interest rates on their loans. This can lead to increased repayment burdens and make it more difficult for them to access credit for essential expenses or investments.

2. Reduced spending power: As borrowing costs rise, overall consumer spending may decrease. This can lead to higher prices for goods and services, affecting the purchasing power of the poor and potentially making it harder for them to afford basic necessities.

3. Impact on employment: If businesses face higher borrowing costs due to increased interest rates, they may be less likely to expand or invest in new projects. This can result in slower job growth or even job losses, affecting the employment prospects of the poor.

Na God hand we dey 🙏🙏

Wrong move

Lending or savings?

Negligible

What's the implications on the economy?

It still won't stop inflation.
For those that don't understand
MPR is the interest rate at which CBN lends to the commercial banks. The MPR is the benchmark against which other lending rates in the economy are pegged and is usually used as an instrument to moderate inflation in the economy.

An adjustment in this economic parameter by the MPC could either positively or negatively affect an individual through its effect on the prime lending rate (i.e. cost of borrowing).

The prime lending rate is the interest rate at which a commercial bank lends to its most credit-worthy borrowers (usually large corporations, because their risk of default is quite low). Not every customer obtains loans at the prime rate.

Most customers are only able to obtain loans at a rate higher than the prime rate mostly because they are more likely to default on a loan. An increase in the Monetary Policy Rate by the MPC will result in an increase in the price (interest rate) you pay for borrowing and vice versa.

That is, an increase in MPR results in a rise in the prime lending rate, and other lending rates by commercial banks, to the public

Inevitable, but will further lead to inflation

Make Tinubu kukuma kee everybody

Dem wan kukuma finish us patapata.

Mechanical engineering as a CBN governor.

This country self....

.

All these increases yet inflation is rising steadily

Very insensitive

Let's see what happens

Haaaaa

Simping sink or sinking ship. Which one of them best describe nigeria?

OK I get it now, Nigeria is from Top to bottom according to a now renounce president. No amount of interest rate raised can save it sinking ship. Aragballah.

Where is templarlandry let him dedicate another song for the sinking ship already.

Al Pacino