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Bank Of America Urges Nigeria To Hike Interest Rate To 25.5% To Curb Inflation - Business (8) - Nairaland

Nairaland Forum / Nairaland / General / Business / Bank Of America Urges Nigeria To Hike Interest Rate To 25.5% To Curb Inflation (22037 Views)

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Re: Bank Of America Urges Nigeria To Hike Interest Rate To 25.5% To Curb Inflation by grandstar(m): 11:28pm On Jul 04, 2023
Lukuluku69:
The European/Western Powers never mean well for Africa. Forget all the charade of Grants, Aids, Loans, Immigration et all.

Know this and a certain peace will invade your soul.

Why not educate yourself on why central banks use interest rates to fight inflation. Also, find out why inflation is bad and why developed countries do their utmost to keep it low.

1 Like

Re: Bank Of America Urges Nigeria To Hike Interest Rate To 25.5% To Curb Inflation by CodeTemplar: 8:59am On Jul 05, 2023
otunbakolawole:
My father came back from England in 1975 after studying there for almost 10 years. He was happy to come back and rushed back home. People of his age then all rushed back because the naira was two to $1. You could buy a new car for an amount you can’t even buy a tyre for today. So, you can see the importance of money. The brain drain was to our side (towards Nigeria). But the moment the money started getting useless — in other words, you have to work 10 times more to get the same thing, because of the fact that your money has been eroded and people say, "am working so hard, and I am only earning peanuts" — the brain drain started.

The point I am trying to make is, the first lesson of governance is the fear of inflation. And what is inflation? Inflation means that you are not managing your money supply very well. An Inflation rate as high as 25 per cent means that in four years, the money they are paying you at that time will not buy you a single loaf of bread because inflation has been taking out 25 per cent each year. An example is pensioners who may be earning static salaries. So, if you’re not getting 25 per cent increase in salaries annually, it means that in four years’ time, the money is nothing.

We need to tackle the inflation menace head on. We can't shy away from it. All these trial and error economics won't save us if we don't fasten our belts and get serious.
That underlined part is a lie. You can't say things have become 10 harder to work for. It is when you want to earn in pounds that it becomes 10 times harder and that's if pound is 10 times valuable than Naira. Your explaination is very flawed but got a dozen likes and some shares. Sad.
Re: Bank Of America Urges Nigeria To Hike Interest Rate To 25.5% To Curb Inflation by lildush(m): 9:18pm On Jul 06, 2023
Flets:
Even when everyone knows it’s against the interest of Nigeria, Tinubu will do it….. and this is why

The West has got the President they need to do all their bidding. They've got Tinubu by the balls .... they have all his dossier ranging from the drug activities to fake identitiy, fake education, rigged election etc. The West got their best puppet.

TINUBU HAS NO OPTION THAN DO THE BIDDING OF THE WEST. Otherwise, he loses it all.

All policies implemented by Tinubu are per IMF and world bank recommendations and aimed at further impoverishing the Nigerian people further like they do to all third world countries.

Only Nigerians can save themselves by taking their country back

This is wat I have been saying all this while. Thank God I found someone who uses his brain to think as well. Alot of tinubu supporters are supporting blindly... Dey don't know d shit dey brought upon this country. May God save Nigeria

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