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Nairaland Forum / Nairaland / General / Business / CBN Leaves Interest Rate Unchanged At 14% (4483 Views)
Otudeko Buys ₦87.8bn Shares To Become Largest First Bank Shareholder With 14% / CBN Raises Interest Rate To 14% / Inflation Rate Rises From 11.14% To 11.23% In August – NBS (2) (3) (4)
CBN Leaves Interest Rate Unchanged At 14% by Truth234(m): 5:02am On Jul 25, 2018 |
The Central Bank of Nigeria led Monetary Policy Committee on Tuesday left interest rates unchanged as widely anticipated. The CBN Governor, Mr Godwin Emefiele, who announced the decision of the committee at the apex bank's headquarters in Abuja said the committee left Monetary Policy Rate unchanged at 14 per cent, while the Cash Reserves Ratio was left at 22.5 per cent. Also, Liquidity Ratio was retained at 30 per cent; Asymmetric corridor at +200 and -500 basis points around the MPR. The governor said the committee strongly considered tightening monetary policy to further curtail the threat of a rise in inflation and sustain capital inflow in the face of sustained monetary policy normalization in the US. According to him, despite the deceleration in headline inflation, the 11.23 per cent inflation rate recorded in June remains above the apex bank's 6-9 per cent target range. This, he supported with the possible implementation of approved 2018 budget, N9.12 trillion, pre-election spending and injection from fiscal authorities, which are expected to provide the economy with additional liquidity that could pressure consumer prices even more. Therefore, the committee believed higher interest rates would rein-in inflationary pressure towards projected single digit, build investors' confidence and stabilize the foreign exchange market. On the contrary, the committee was of the view that while raising interest rates could curtail inflation rate at this time, it would weaken consumption, reduce new investments, and trigger the re-pricing of financial assets by deposit money banks, thus limiting credit funding to the real sector. However, in response to various calls for lower interest rate, the governor said lower monetary policy rate would aid consumption but hurt capital inflows, disrupt foreign exchange, and escalate inflation rate as liquidity to the economy is expected to increase once the federal government commence implementation of the 2018 budget. Therefore, the seven of the ten-member committee voted to maintain current MPR, while two voted for 50 basis points increase, the remaining member voted for 25 basis points raise. Suggesting that "the committee is likely to hike rate in the fourth quarter depending on the implementation of the 2018 budget, the level of pre-election spending, and the state of global economy, especially the U.S monetary policy, Brexit negotiation and global trade tensions," said analysts at Investors King Ltd. http://investorsking.com/cbn-leaves-interest-rate-unchanged-at-14/ |
Re: CBN Leaves Interest Rate Unchanged At 14% by MANNABBQGRILLS: 5:03am On Jul 25, 2018 |
GOOD DEVELOPMENT 2 Likes 1 Share |
Re: CBN Leaves Interest Rate Unchanged At 14% by Firefire(m): 7:20am On Jul 25, 2018 |
Kudos to CBN. 1 Like |
Re: CBN Leaves Interest Rate Unchanged At 14% by pawesome(m): 7:21am On Jul 25, 2018 |
E concern them... Dollar to Naira never change so 2 Likes |
Re: CBN Leaves Interest Rate Unchanged At 14% by atobs4real(m): 7:22am On Jul 25, 2018 |
Good one |
Re: CBN Leaves Interest Rate Unchanged At 14% by pejuakinab: 7:23am On Jul 25, 2018 |
Loan on point, I want to buy Buharians 1 Like |
Re: CBN Leaves Interest Rate Unchanged At 14% by senchris(m): 7:23am On Jul 25, 2018 |
post=69680839: Na so, what did you understand from this news that is good development. Do you just want us to know you didn't die of high blood pressure following yesterday's sad news for APC? 8 Likes 2 Shares |
Re: CBN Leaves Interest Rate Unchanged At 14% by lonelydora: 7:36am On Jul 25, 2018 |
Okay |
Re: CBN Leaves Interest Rate Unchanged At 14% by DONMAYOR19(m): 7:39am On Jul 25, 2018 |
CBN interest rate that nigeria banks only give to themselves. Enter any bank to inquire about loan, if them tell you requirement u go shock. Some will even go as far as telling u to provide landed properties document for them and the landed property must be in a good location in either Lagos, Abuja or PH and the interest rate will be 23%+. I swear loan not for the poor in Nigeria ��. This country too cast. 9 Likes 1 Share |
Re: CBN Leaves Interest Rate Unchanged At 14% by lonelydora: 7:40am On Jul 25, 2018 |
I thought the circled used to be (0) on First page? 5 Likes
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Re: CBN Leaves Interest Rate Unchanged At 14% by omowolewa: 7:46am On Jul 25, 2018 |
Skeptical |
Re: CBN Leaves Interest Rate Unchanged At 14% by hisgrace090: 8:12am On Jul 25, 2018 |
All I know is that there is hunger in the land. 1 Like |
Re: CBN Leaves Interest Rate Unchanged At 14% by toocoded: 8:13am On Jul 25, 2018 |
Awon lomo |
Re: CBN Leaves Interest Rate Unchanged At 14% by Nobody: 8:14am On Jul 25, 2018 |
pawesome:Ignorance! This news isnt for you, It's for the money market investors. 1 Like |
Re: CBN Leaves Interest Rate Unchanged At 14% by milliondollas(m): 8:15am On Jul 25, 2018 |
FOOLS WILL SAY GOOD DEVELOPMENT INTERESTS RATE IN EUROPE IS .5% BLIND FOOL'S 4 Likes |
Re: CBN Leaves Interest Rate Unchanged At 14% by dingbang(m): 8:23am On Jul 25, 2018 |
lonelydora:in principle, 0 is wrong when counting pages. Do you start with page zero when numbering? Think! I guess they have realized their mistake and corrected it. 2 Likes |
Re: CBN Leaves Interest Rate Unchanged At 14% by economia: 8:25am On Jul 25, 2018 |
stanbic IBTC bank is charging me 29% please who do I report to? |
Re: CBN Leaves Interest Rate Unchanged At 14% by pawesome(m): 8:27am On Jul 25, 2018 |
aaronson:izit your ignorance?... chor chor chor chor chor.....its not everything you must reply.. And that is called minding your business 3 Likes |
Re: CBN Leaves Interest Rate Unchanged At 14% by Ezeamaemmanuel(m): 9:25am On Jul 25, 2018 |
Am I the only one who read everything but understood nothing? 3 Likes |
Re: CBN Leaves Interest Rate Unchanged At 14% by Truth234(m): 9:41am On Jul 25, 2018 |
economia: 29 percent is high but banks can't give you 14 per cent, they have to add operating cost and service charge. Abi if you default, who go convert security to cash? |
Re: CBN Leaves Interest Rate Unchanged At 14% by lonelydora: 9:49am On Jul 25, 2018 |
dingbang: Seun is working. Seun for President Btw, How are you dealing with the #BankWars? You know your bank is my number one bank. Efficient and Effective. |
Re: CBN Leaves Interest Rate Unchanged At 14% by dingbang(m): 9:56am On Jul 25, 2018 |
lonelydora:well, my modus operandi is on Nairaland and not on twitter so that's their business. If it were on nairaland, I tell you , that thread would have been deleted even before people start to see it. So many threads against first bank have been created on nairaland and i made sure they didn't see the light of day. That's how I work, I can't be working for a company and someone comes from nowhere to bash it. Mbanu. I will contribute my own quota in protecting the interest of the whichever establishment I find myself in as well as the goodwill of its brand 2 Likes |
Re: CBN Leaves Interest Rate Unchanged At 14% by lonelydora: 10:36am On Jul 25, 2018 |
dingbang: Wow. Diligent worker. May God reward all your efforts in Jesus Name. AMEN |
Re: CBN Leaves Interest Rate Unchanged At 14% by dingbang(m): 11:14am On Jul 25, 2018 |
lonelydora:amen brother. thanks |
Re: CBN Leaves Interest Rate Unchanged At 14% by RoyalPriesthuud(m): 3:31pm On Jul 25, 2018 |
dingbang:Is that First Bank's policy concerning customers grievances? Bury it? |
Re: CBN Leaves Interest Rate Unchanged At 14% by dingbang(m): 5:57pm On Jul 25, 2018 |
RoyalPriesthuud:I have a thread for customers grievances which I solve . please check my signature. |
Re: CBN Leaves Interest Rate Unchanged At 14% by RoyalPriesthuud(m): 4:21am On Jul 26, 2018 |
dingbang:All good. |
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