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Nairaland Forum / Nairaland / General / Business / CBN Raises Interest Rate To 16.5% (15188 Views)
CBN Raises Interest Rate To 18.75% / CBN Raises Interest Rate To 15.5% To Curb Rising Inflation / CBN Raises Interest Rate To 14% (2) (3) (4)
Re: CBN Raises Interest Rate To 16.5% by Timekeeper452: 5:09pm On Nov 22, 2022 |
Re: CBN Raises Interest Rate To 16.5% by Acidosis(m): 5:10pm On Nov 22, 2022 |
Eriggs: Unfortunately, this is only a short-term measure. If you don't boost productivity, the poor will become extremely poorer in 1-2 years. That Obituary gan gan is what you need to preserve your life. 2 Likes |
Re: CBN Raises Interest Rate To 16.5% by descarado: 5:10pm On Nov 22, 2022 |
A sharing country is a dead country. As long as there is no production except oil revenue which they share and misuse, no policy will work in Nigeria in the long run. They know that. Political elite dhoukd be dismantled first. |
Re: CBN Raises Interest Rate To 16.5% by InvertedHammer: 5:12pm On Nov 22, 2022 |
Re: CBN Raises Interest Rate To 16.5% by BJanta: 5:13pm On Nov 22, 2022 |
2 Likes |
Re: CBN Raises Interest Rate To 16.5% by Brushstrokes20: 5:14pm On Nov 22, 2022 |
By the time the lifeless sadist combo with emefiele and cohorts are done with the shithole , Nigerians will be queueing up in droves for Somalia visa! VOTE WISELY COME 2023! |
Re: CBN Raises Interest Rate To 16.5% by geeboy: 5:15pm On Nov 22, 2022 |
5 Likes 2 Shares |
Re: CBN Raises Interest Rate To 16.5% by Acidosis(m): 5:19pm On Nov 22, 2022 |
MiaBeer: You can discuss with your banker on how to go about investing in Treasury Bills, Bonds or check out some threads on Nairaland for guidance. |
Re: CBN Raises Interest Rate To 16.5% by BlakKluKluxKlan(m): 5:20pm On Nov 22, 2022 |
Acidosis: Problem is, getting on to govt bonds and treasury bills is an herculian task in Nigeria. It's like they've turned it into a cult business. 2 Likes |
Re: CBN Raises Interest Rate To 16.5% by gracealonev: 5:21pm On Nov 22, 2022 |
While instructing banks to pay useless rates on savings and deposits. |
Re: CBN Raises Interest Rate To 16.5% by BlakKluKluxKlan(m): 5:23pm On Nov 22, 2022 |
Thortp: Plus the absurd policy of an oil producing country importing refined oil being without oil refinery ! |
Re: CBN Raises Interest Rate To 16.5% by Acidosis(m): 5:23pm On Nov 22, 2022 |
geeboy: You may be right. |
Re: CBN Raises Interest Rate To 16.5% by Mercury12(m): 5:26pm On Nov 22, 2022 |
Nice one so how do someone start reaping the benefit of this 16℅ interest increase? |
Re: CBN Raises Interest Rate To 16.5% by Thortp(m): 5:28pm On Nov 22, 2022 |
My brother, is that not madness of the highest order? BlakKluKluxKlan: |
Re: CBN Raises Interest Rate To 16.5% by tarantino1: 5:29pm On Nov 22, 2022 |
Na experimental economics this APC government dey do. They don't know shit. Below is 8 years of APC in a nutshell "Maybe if I cut the blue wire, the motor go move. I don cut am.. e no move. Oya make I try the red one, then the brown one, or maybe the black one. " Useless economic policies that have done absolutely nothing yet their deluded and brainwashed supporters keep singing their praises 1 Like 1 Share |
Re: CBN Raises Interest Rate To 16.5% by oluwasegun007(m): 5:31pm On Nov 22, 2022 |
If i see the CBN governor....me and am go word. I Don tire |
Re: CBN Raises Interest Rate To 16.5% by israelmao(m): 5:34pm On Nov 22, 2022 |
Please if you can,it is time to save for the rainy days. |
Re: CBN Raises Interest Rate To 16.5% by petermichaels(m): 5:35pm On Nov 22, 2022 |
MR GODWIN EMEFIELE! HE KEEPS INCREASING INTEREST. THERES NO HOW YOU WILL WORK FOR A TYRANT AND NOT BE ONE YOURSELF. HE MAY END UP AS THE MOST FOOLISH CBN GOVERNOR. SHOW ME WHO/WHAT APC CANNOT DESTROY. |
Re: CBN Raises Interest Rate To 16.5% by annisy(f): 5:35pm On Nov 22, 2022 |
This people (APC) na only God go help us from their wicked policies!!! if buhari decides to amend our constitution to go for another term some pea brains will still support him |
Re: CBN Raises Interest Rate To 16.5% by omonnakoda: 5:41pm On Nov 22, 2022 |
Acidosis:It will not curb anything . The only place it will do that is in text books not reality. Fundamental issues. The government Federal and States are the largest borrowers in the Nigerian credit space, not consumer or industry. What industry can afford to borrow at exsting rates The irresponsible borrowing of the government and illegal collaboration of the CBN are major factors fuelling inflation Interest rate hikes in Nigeria have never affected inflation A large part of inflation is imported because we manufacture virtually nothing so it is a vicious cycle . The government borrows irresponsibly leading to exchange rate shocks and imported goods cost even more. That the CBN has obliged the government for years by printing money or otherwise easing supply does not help Sorry but this will do nothing to inflation. It only ensures that our manufacturing and real sector never take off and government remains the biggest player in our economy The behaviour of governments means that Nigerian banks have no other business than lending to government and they do little to support the real sector 4 Likes 2 Shares |
Re: CBN Raises Interest Rate To 16.5% by dododawa1: 5:41pm On Nov 22, 2022 |
We will SURVIVE. |
Re: CBN Raises Interest Rate To 16.5% by Mckandre(m): 5:43pm On Nov 22, 2022 |
Eriggs:ure on a longthing, those clamoring for the so called obituary are the few intelligent once left in Nigeria,know this and remain blessed. 1 Like |
Re: CBN Raises Interest Rate To 16.5% by professore(m): 5:43pm On Nov 22, 2022 |
MiaBeer:I sell land bro, with good returns. Give me a mention Sir. |
Re: CBN Raises Interest Rate To 16.5% by Saintinoo(m): 5:48pm On Nov 22, 2022 |
Good one, to the people shouting bad policy, where were you during your economics class. Increasing the MPR mean people can now save and get high interest on savings, also this is the rate at which CBN loans money to commercial banks, this is a contractionary monetary policy and it is welcomed, sure it will help reduce inflation but in the short run, people might suffer a bit. |
Re: CBN Raises Interest Rate To 16.5% by FireUpNow(m): 5:57pm On Nov 22, 2022 |
Godwin Emiefele is the worst CBN governor and APC and Buhari are clueless, make dem dey deceive una una say na to curb inflation. Nonsense. By the time you guys go see pepper una eyes go clear like HD tv. 1 Like |
Re: CBN Raises Interest Rate To 16.5% by 07kjb: 5:58pm On Nov 22, 2022 |
Thortp: . that's the problem They keep quoting economics that is inexistence 1 Like |
Re: CBN Raises Interest Rate To 16.5% by bobbiiee: 5:58pm On Nov 22, 2022 |
Oga, buy land. You can't get more than 22k on 5 mill. Going by what i got on my last savings. MiaBeer: 1 Like |
Re: CBN Raises Interest Rate To 16.5% by MiaBeer(m): 5:59pm On Nov 22, 2022 |
bobbiiee:Ok. Thanks |
Re: CBN Raises Interest Rate To 16.5% by omonnakoda: 6:00pm On Nov 22, 2022 |
geeboy:You are right Nigeria's inflation has external causes however energy cost is minimal Nigerian petrol is among the cheapest in the world The real culprit is government borrowing most of which is stolen or deployed unproductively/ Government is the largest borrower , not industry or consumer and a lot of that borrowing is from the CBN which is effectively printing money to fund deficit budgets/ What you do not explain is what is driving the exchange rate issues especially when oil prices have been high for a while? Again it is the government spending e.g on subsidy which again is funded by borrowing Exchange rate does not fall for no reason Summary a lot of the issues are down to government borrowing which has been a backdoor raid of citizens savings by depleting the value of the naira |
Re: CBN Raises Interest Rate To 16.5% by 07kjb: 6:01pm On Nov 22, 2022 |
Saintinoo: They one being raised previously, what has been the effect on our economy |
Re: CBN Raises Interest Rate To 16.5% by ppogba: 6:04pm On Nov 22, 2022 |
bobbiiee: Your N5 mil has no business in savings. You are of at least 40 k in FTD in a month. |
Re: CBN Raises Interest Rate To 16.5% by omonnakoda: 6:07pm On Nov 22, 2022 |
Saintinoo:This nonsense will only work in the classroom. What was the interest rate before this latest increase? Why did that not persuade people to "save" . Saving is not a good thing or a virtue neither is it a bad thing. It is amoral Our economy is not overheating by any measure the simple truth is that government alone has nearly exhausted all the borrowing capacity in our economy The banks do not lend to real business and do not seem to have any interest in doing so since government is so kind but the capacity of government to borrow is not unlimited Government has crowded real sector players out of the credit market. The interest rate is a measure of risk and will not persuade anyone to save because the exchange rate risk remains just as the risk of government default on loan repayments |
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