Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,194,730 members, 7,955,766 topics. Date: Sunday, 22 September 2024 at 02:36 PM |
Nairaland Forum / Nairaland / General / Business / CBN Drops Interest Rates By 50bps To 13.50% (11532 Views)
CBN Drops ATM Withdrawal Limit To N20k/Day / 5 Banks In Nigeria With High Savings Interest Rates Account / Dangote Foundation Disburses N130m To 13,000 Women In Nasarawa (Photos) (2) (3) (4)
Re: CBN Drops Interest Rates By 50bps To 13.50% by chloride6: 3:08pm On Mar 26, 2019 |
candlewax: Forex is freely available to everyone at least at black market rate. |
Re: CBN Drops Interest Rates By 50bps To 13.50% by chloride6: 3:09pm On Mar 26, 2019 |
Just2endowed2: This is a huge gamble considering that the Feds just raised rates.. 1 Like |
Re: CBN Drops Interest Rates By 50bps To 13.50% by Nobody: 3:11pm On Mar 26, 2019 |
GrossPrice:What is the rate now sef? |
Re: CBN Drops Interest Rates By 50bps To 13.50% by Dellfoam(m): 3:12pm On Mar 26, 2019 |
It's a welcome development. Just following |
Re: CBN Drops Interest Rates By 50bps To 13.50% by Enuoyan: 3:12pm On Mar 26, 2019 |
I thought they said that the man's tenure has ended!!! How come it is only during this injury time that he suddenly realise that he has to reduce the rate |
Re: CBN Drops Interest Rates By 50bps To 13.50% by Nobody: 3:16pm On Mar 26, 2019 |
chloride6: If importers and industries rely on black market, before the year runs out NLC will demand another increment on minimum wage ostensibly. Importers of certain goods are also banned from obtaining forex at the apex bank's rate |
Re: CBN Drops Interest Rates By 50bps To 13.50% by tobaaro(m): 3:16pm On Mar 26, 2019 |
candlewax: With all due respect, the foregoing postulation is misguided. Our economy needs Manufacturing roots and not the continued trade in Imported items. Asking BOI to fund importation is travesty and will only enrich some while further destroying the Economy by stiffling ability of Local Companies to compete. #My2cents 2 Likes 1 Share |
Re: CBN Drops Interest Rates By 50bps To 13.50% by Kaa4(m): 3:16pm On Mar 26, 2019 |
Just2endowed2:. You are the only one comparing the comparables. The issue of Forex rates and the attendant capital flight has to be addressed as well. But good to test the waters with the reduction. 1 Like |
Re: CBN Drops Interest Rates By 50bps To 13.50% by Nobody: 3:17pm On Mar 26, 2019 |
oge4real: People do and somehow survive |
Re: CBN Drops Interest Rates By 50bps To 13.50% by slimthugchimee2(m): 3:18pm On Mar 26, 2019 |
InvertedHammer: Where did you get this your statistics from? Last time I checked, Ghana is 20% Egypt 16.5 Uganda is 10% |
Re: CBN Drops Interest Rates By 50bps To 13.50% by Nobody: 3:24pm On Mar 26, 2019 |
tobaaro: I never said the BOI should fund importation of finished goods, that's absurd. I merely hoped that they fund importers to build industries too because ATM they only support existing industries and most importers do not have the capacity to set up an industry with out the support of BOI thereby leaving them with no option than import, in some cases smuggle as survival is non negotiable |
Re: CBN Drops Interest Rates By 50bps To 13.50% by oge4real(f): 3:28pm On Mar 26, 2019 |
candlewax: That must be hard to payback though |
Re: CBN Drops Interest Rates By 50bps To 13.50% by Enuoyan: 3:29pm On Mar 26, 2019 |
For many years, since July 2016, this man has refused to bring down interest rate, how come it is now that his tenure is expiring that he suddenly realised that the rate should be reduced? |
Re: CBN Drops Interest Rates By 50bps To 13.50% by chloride6: 3:35pm On Mar 26, 2019 |
candlewax: There is so much liquidity in the FX market such that the spread on the black market is so small right now... |
Re: CBN Drops Interest Rates By 50bps To 13.50% by chloride6: 3:36pm On Mar 26, 2019 |
Enuoyan: Go and sit down... It took the human face of Emifiele not to increase the rates... Anyway the rates were psuedo increased in the past years.. |
Re: CBN Drops Interest Rates By 50bps To 13.50% by Yankee101: 3:37pm On Mar 26, 2019 |
TeamSimple: Yep. I see why you're team simple |
Re: CBN Drops Interest Rates By 50bps To 13.50% by Nobody: 3:37pm On Mar 26, 2019 |
chloride6: You are right but that tiny spread might be all one need if you consider volume |
Re: CBN Drops Interest Rates By 50bps To 13.50% by chloride6: 3:37pm On Mar 26, 2019 |
slimthugchimee2: The guy is quoting figures from his yansh |
Re: CBN Drops Interest Rates By 50bps To 13.50% by chloride6: 3:39pm On Mar 26, 2019 |
candlewax: The current restrictive FX policy is the best.... We have to discourage frivolous importation. |
Re: CBN Drops Interest Rates By 50bps To 13.50% by Nobody: 3:41pm On Mar 26, 2019 |
chloride6: No doubts hence the need for BOI to fund start ups too |
Re: CBN Drops Interest Rates By 50bps To 13.50% by chloride6: 3:43pm On Mar 26, 2019 |
candlewax: There are a lot of govt agencies funding key start ups.. BOI, NSIA , InfraCredit to mention a few... The next 4 years is going to be a hit... |
Re: CBN Drops Interest Rates By 50bps To 13.50% by Nobody: 3:44pm On Mar 26, 2019 |
chloride6: Thats the claim but the truth is that they only fund existing industries |
Re: CBN Drops Interest Rates By 50bps To 13.50% by chloride6: 3:45pm On Mar 26, 2019 |
candlewax: Most startups will die in 1 year... Why should govt waste money |
Re: CBN Drops Interest Rates By 50bps To 13.50% by Moukandjo: 3:48pm On Mar 26, 2019 |
Election gimmick! We will not fall for it! I am Obediently Atikulating! |
Re: CBN Drops Interest Rates By 50bps To 13.50% by Nobody: 3:52pm On Mar 26, 2019 |
chloride6: They should find a way round it, with more industries providing goods with reasonable pricing and durability, smuggling and importation will die naturally |
Re: CBN Drops Interest Rates By 50bps To 13.50% by samlake(m): 4:49pm On Mar 26, 2019 |
It should come down further, other Africans country do less than that... |
Re: CBN Drops Interest Rates By 50bps To 13.50% by courage89(m): 4:56pm On Mar 26, 2019 |
chloride6: In what capacity are they funding startups? Loans, grants, equity, hybrid? |
Re: CBN Drops Interest Rates By 50bps To 13.50% by chloride6: 4:59pm On Mar 26, 2019 |
courage89: hybrid...mostly equity though |
Re: CBN Drops Interest Rates By 50bps To 13.50% by Nobody: 5:00pm On Mar 26, 2019 |
see as the 50 basis point sound like 50% , instead of them to say 0.05%, bankers are con artist. how do you stimulate the economy with that rate, whats d difference between 14 and 13.5. |
Re: CBN Drops Interest Rates By 50bps To 13.50% by b03liberty(m): 5:00pm On Mar 26, 2019 |
13% won't be a bad one. The economy has to stimulate after a long period of contraction... Election and recovery from recession |
Re: CBN Drops Interest Rates By 50bps To 13.50% by courage89(m): 5:10pm On Mar 26, 2019 |
chloride6: Do you by any chance have information on companies that have benefited from these types of investments? |
Re: CBN Drops Interest Rates By 50bps To 13.50% by Truth234(m): 5:17pm On Mar 26, 2019 |
oge4real: No, they will even pay higher, between 25% to 30%. What you see here is benchmark rate. Lenders will add operating cost and service charge. In fact, the improved borrowing cost of 13.5% is not realistic on a long-term as the CBN is merely taking advantage of slowing global growth and the surge in the risk associated with developed economies. Improved crude oil outlook, reducing inflation rate and uncertainties in developed economies are three reasons why the MPC lowered rate today, knowing no matter what, foreign investors will still embrace 13.5% as it is still higher than offerings from developed economies. If you are still interested in knowing why the move, read the breakdown I did on it earlier today. https://investorsking.com/cbn-reduces-interest-rate-by-50bps/ 3 Likes 1 Share |
Get Paid To Read News, Comment And Share Posts. Its Free! / Dangote To Venture Into Steel Production, Targets Meeting Demand In West Africa. / How To Book Your Place As A Driver On Indriver And Get Approved In 3 Hours
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 33 |