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CBN Drops Interest Rates By 50bps To 13.50% - Business (3) - Nairaland

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Re: CBN Drops Interest Rates By 50bps To 13.50% by Enuoyan: 5:42pm On Mar 26, 2019
chloride6:


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..

Who increased it to 14% in 2016?
I bet you know nothing about the monetary policies of this country
Re: CBN Drops Interest Rates By 50bps To 13.50% by chloride6: 5:48pm On Mar 26, 2019
Enuoyan:


Who increased it to 14% in 2016?
I bet you know nothing about the monetary policies of this country


Go and sit down young man...

If they didnt increase it..

Inflation and Capital Flight would have killed our economy...
Re: CBN Drops Interest Rates By 50bps To 13.50% by namedo: 6:52pm On Mar 26, 2019
Good. Yes, we can!
Re: CBN Drops Interest Rates By 50bps To 13.50% by DaCharis2016: 6:57pm On Mar 26, 2019
Why can't we have something like 5-8%?
Re: CBN Drops Interest Rates By 50bps To 13.50% by CofOLandOfPeace(m): 8:36pm On Mar 26, 2019
Will really want to reason with the CBN on the cause of this reduction.

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Re: CBN Drops Interest Rates By 50bps To 13.50% by yemi15(m): 8:43pm On Mar 26, 2019
chloride6:
By James Emejo in Abuja

The Central Bank of Nigeria (CBN) Tuesday resolved to reduce the Monetary Policy Rate (MPR), otherwise known as interest rate, by 50 basis points to 13.5 per cent from 14 per cent.

The MPR is the rate at which the CBN lends to commercial banks and often determines the cost of borrowing in the economy.

https://www.google.com/amp/s/www.thisdaylive.com/index.php/2019/03/26/cbn-cuts-interest-rate-to-13-5/%3famp

Issokay
Re: CBN Drops Interest Rates By 50bps To 13.50% by yemi15(m): 8:46pm On Mar 26, 2019
slimthugchimee2:

Where did you get this your statistics from? Last time I checked, Ghana is 20% Egypt 16.5
Uganda is 10%
sad

grin
Re: CBN Drops Interest Rates By 50bps To 13.50% by soothsayer2: 10:59pm On Mar 26, 2019
Imagine borrowing a million naira to support your business in MFB here in Lagos for 12 months period & you are expected to be servicing the loan at the rate of N123,800k every month and you have a total of N1.485.800 at the end of the day making an interest rate of N485.800 in just a year on N1m. ...

Is that not crazy?
Re: CBN Drops Interest Rates By 50bps To 13.50% by oge4real(f): 12:10am On Mar 27, 2019
Truth234:


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/

Thanks for an insightful read.

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