₦airaland Forum

By Ebitonye Akpodigha

Contrary to expectations from all quarters, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has kept all key indicators intact.

Minister of Finance, Mrs Kemi Adeosun, had urged the CBN to lower the interest rates so as to boost domestic borrowing by the government.

She had explained in an interview with CNBC Africa that lower interest rates would allow the government to take more local loans without increasing the burden of debt servicing.

But at the end of the two-day MPC meeting in Abuja, the CBN, through its Governor, Mr Godwin Emefiele, announced that all rates would remain unchanged.

Reading the communiqué after its September MPC meeting, Mr Emefiele said that the benchmark Monetary Policy Rate would remain at 14 percent, while the Cash Reserve Ratio and Liquidity Ratio would stay at 22.50 percent and 30 percent respectively.

When the Committee last met in July 2016, it changed the MPR from 12 percent to 14 percent.

http://www.businesspost.ng/2016/09/20/mpc-meeting-cbn-leaves-rates-unchanged/

Wow, this post really causes my neural cells to depolarize by opening gated channels
in the membrane and passively diffusing potassium ions out of the cytoplasm down its concentration gradient
leading to a sequence of action potentials to stimulate in accord with long term potentiation pathways
developed through the release of seratonin at key moments of sensory input.

The ministry of finance stated clearly that they want the interest rate lowered while the CBN still decided to maintain the very high interest rate. Now, whose interest is the CBN serving? The lack of synergy between the monetary and fiscal authorities is not a good way to restore confidence in this period of economic recession. Every relevant agencies should be seen working together and not at cross purposes.

its getting clearer by the day and Nigerians can now see the person who wants this recession to continue.

Oga well done.

Hmm

Shiitposter:
Wow, this post really causes my neural cells to depolarize by opening gated channels
in the membrane and passively diffusing potassium ions out of the cytoplasm down its concentration gradient
leading to a sequence of action potentials to stimulate in accord with long term potentiation pathways
developed through the release of seratonin at key moments of sensory input.

Thanks for making laugh...

[quote author=Shiitposter post=49528540]Wow, this post really causes my neural cells to depolarize by opening gated channels
in the membrane and passively diffusing potassium ions out of the cytoplasm down its concentration gradient
leading to a sequence of action potentials to stimulate in accord with long term potentiation pathways
developed through the release of seratonin at key moments of sensory input.

Hv u communicated?

Buhari is running and un-cordinated government. Government of do your own and I do my own.