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CBN Raises MPR To 13% From 11.5% - Business - Nairaland

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CBN Raises Benchmark MPR By 200 Basis Points To 24.75% / CBN Raises Interest Rate To 18.75% / CBN Raises Interest Rate To 15.5% To Curb Rising Inflation (2) (3) (4)

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CBN Raises MPR To 13% From 11.5% by lalasticlala(m): 1:07pm On May 24, 2022
CBN’s monetary policy committee raises interest rate to 13%

The Monetary Policy Committee of the Central Bank of Nigeria has voted unanimously to raise the benchmark interest rate to 13% after over two years of expansionary monetary policy.

This was disclosed by the Governor of the CBN, Godwin Emefiele, while reading the communique of the third monetary policy committee meeting of the year, on Tuesday 24th May 2022.

The rate which had been at 11.5% since September 2020, in a bid to spur economic growth from the recession witnessed in 2020 due to the covid-19 pandemic, has now been raised by the apex bank after inflation rate rises above 16%.

https://nairametrics.com/2022/05/24/cbns-monetary-policy-committee-raises-interest-rate-to-13/?amp=1

4 Likes

Re: CBN Raises MPR To 13% From 11.5% by bigdammyj: 1:09pm On May 24, 2022
Noted.

The result of having lukewarm citizens.

5 Likes

Re: CBN Raises MPR To 13% From 11.5% by Built2last: 1:09pm On May 24, 2022
How in heaven's name can you have MPR of double digit and expect the economy to grow.

How can small businesses borrow and pay back with such ridiculous base rate.

We have a dumb Bleep running our monetary policy in CBN.

A clueless nincompoop running our fiscal policy in Ministry of finance

A commander in chief with no clue of what should be done.

No wonder we have been on downward spiral.

TUEH

45 Likes 1 Share

Re: CBN Raises MPR To 13% From 11.5% by socialmediaman: 1:09pm On May 24, 2022
Nigeria also wants to slow down the economy over rising prices? The problem is, we’re not a credit based economy. Most people don’t own credit cards and don’t borrow from banks to buy houses, cars and merry daily needs so…
Re: CBN Raises MPR To 13% From 11.5% by ekenetheorg(m): 1:09pm On May 24, 2022
Good. They should equally issue bonds let's see who will buy

1 Like

Re: CBN Raises MPR To 13% From 11.5% by DaddyGoo: 1:10pm On May 24, 2022
At the 11.5% rate people are barely borrowing. Those that borrowed are having difficulty repaying.

With this raise, watch how payday loans, bank loans, microfinance loans, housing loans and even Xtra credit on phones and data will skyrocket in cost(interest rate).

Just so y'all gofament people can have more money in the vaults to play with this election season.

Meffy you have really damaged this country's economy with your confused policies!

17 Likes 3 Shares

Re: CBN Raises MPR To 13% From 11.5% by updatedws: 1:10pm On May 24, 2022
more woes to the people... this government wants to make Nigeria rich at all cost even if it means Nigerians get poorer in the process

click the link below to learn a few tricks about money making
https://scholarshipmenu.com
Re: CBN Raises MPR To 13% From 11.5% by johnkay1(m): 1:10pm On May 24, 2022







EMEFIELE IS READY TO PUNISH NIGERIANS FOR KICKING AGAINST HIS CANDIDACY.

NEXT IS RAISING BANK STAMP DUTY FROM #50 TO #200.

LOL


I HEARD CUSTOM DUTY ON COROLLA 2007 IS #1.2MILLION. WE GO WISE BY FORCE






11 Likes

Re: CBN Raises MPR To 13% From 11.5% by anonimi: 1:10pm On May 24, 2022
lalasticlala:
https://nairametrics.com/2022/05/24/cbns-monetary-policy-committee-raises-interest-rate-to-13/?amp=1

Emefiele and Bubu wrecking 200 million Nigerians since 2015.
Will it get worse before it gets better

10 Likes 2 Shares

Re: CBN Raises MPR To 13% From 11.5% by gbaskiboy: 1:10pm On May 24, 2022
All we are saying give us good economy policy that will drive the economy to the highest point where things will be favorable to us all.
Re: CBN Raises MPR To 13% From 11.5% by NOwazobia: 1:10pm On May 24, 2022
Mop up?

In Nigeria, we barely see the effect of monetary policies especially when you expect them to reduce inflation.

Well, men will now start considering crude loan venue...

But I bet, those closer to the sit of power won't borrow at same rate...

Only for the medium to small scale investors.
Re: CBN Raises MPR To 13% From 11.5% by SultanOfPuna: 1:10pm On May 24, 2022
Those Emifele have a daughter?

I will love to marry her

Make i chop small from this Crazy country
Re: CBN Raises MPR To 13% From 11.5% by seunny4lif(m): 1:10pm On May 24, 2022
13% shocked shocked
Is Nigeria finished or still on the way to finish
Re: CBN Raises MPR To 13% From 11.5% by diplomat058(m): 1:10pm On May 24, 2022
lol. Naira value is on a downward slope and prices are on all-time highs, yet these clowns still deem it fit to mop up liquidity by increasing the benchmark interest rates for loans and advances. Trying to force down prices via fewer money in circulation, I guess. No regards for the poor, whatsoever. What a country!

14 Likes 2 Shares

Re: CBN Raises MPR To 13% From 11.5% by dheolexaone(f): 1:10pm On May 24, 2022
No good news to favor the masses in Nigeria
Re: CBN Raises MPR To 13% From 11.5% by Aboguede(m): 1:10pm On May 24, 2022
Who una dey lend this money shocked
Re: CBN Raises MPR To 13% From 11.5% by Xixtie(f): 1:11pm On May 24, 2022
The day APC leaders come up with any governmental reformations that would favor the common men, I will do 365 days thanksgiving.

1 Like

Re: CBN Raises MPR To 13% From 11.5% by bluefilm: 1:11pm On May 24, 2022
What does it mean?
Re: CBN Raises MPR To 13% From 11.5% by AdmissionTipz(m): 1:12pm On May 24, 2022
.if you dont understand this , say hi

4 Likes

Re: CBN Raises MPR To 13% From 11.5% by anonimi: 1:13pm On May 24, 2022
bluefilm:
What does it mean?

More hardship, more extreme poverty, more jobless people from retrenchments, more sorrows, tears and blood.

4 Likes 2 Shares

Re: CBN Raises MPR To 13% From 11.5% by Winters23: 1:14pm On May 24, 2022
Ok
Re: CBN Raises MPR To 13% From 11.5% by zolajpower: 1:14pm On May 24, 2022
grin
Re: CBN Raises MPR To 13% From 11.5% by rowosky(m): 1:14pm On May 24, 2022
Emefiele the dullard that has wrecked Nigeria's economy

3 Likes

Re: CBN Raises MPR To 13% From 11.5% by OgaTheTop2: 1:15pm On May 24, 2022
smiley
Re: CBN Raises MPR To 13% From 11.5% by TimmyTen(m): 1:15pm On May 24, 2022
Corruption is deeply rooted.. It will be difficult to progress without reducing corruption to the barest minimum. How can card carrying politician be the CBN governor for crying out loud?

3 Likes 1 Share

Re: CBN Raises MPR To 13% From 11.5% by ajerimitan: 1:16pm On May 24, 2022
Has any one told them that what is happening is cash pull inflation? How can this rate ever match the loss incurred due to exchange rate? Now that the dollar is gaping up against the naira. Do they think they can fool foreign investors to displace dollar for the naira especially with the unstable government and its policy? Must they wait till its 1000 naira per dollar for them to take the right step? Now that there is a very profitable triangular arbitrage in favour of the dollar how will the CBN correct that.

4 Likes 1 Share

Re: CBN Raises MPR To 13% From 11.5% by kelsmic: 1:16pm On May 24, 2022
shocked
Re: CBN Raises MPR To 13% From 11.5% by LIGHTROOM: 1:16pm On May 24, 2022
How on Earth did emefiele became the governor of central bank in the first place?

7 Likes 2 Shares

Re: CBN Raises MPR To 13% From 11.5% by id4sho(m): 1:17pm On May 24, 2022
sad
Re: CBN Raises MPR To 13% From 11.5% by bluefilm: 1:17pm On May 24, 2022
anonimi:


More hardship, more extreme poverty, more jobless people from retrenchments, more sorrows, tears and blood.

Jisos cry

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