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Nairaland Forum / Nairaland / General / Business / CBN Raises Benchmark MPR By 200 Basis Points To 24.75% (10996 Views)
CBN Raises Interest Rate To 18.75% / CBN Raises Interest Rate To 14% / CBN Raises MPR To 13% From 11.5% (2) (3) (4)
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Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by Amigoss: 3:49pm On Mar 26 |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by Vision101(m): 3:49pm On Mar 26 |
OboOlora:It will be interesting to see your cv so that we can know how brilliant you are and your success story in positions you held. 4 Likes |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by frankson1(m): 3:50pm On Mar 26 |
SmartyPants: That moniker you quoted and as well as some other monikers on this thread, have no clue and will never understand. 1 Like |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by ppogba: 3:50pm On Mar 26 |
Winning123: It is not because they cannot think. It is actually because this generation sees nothing wrong in exhibiting their ignorance to high heavens openly and shamelessly. That is why it is easy for a stupid person to make a stupid comment expecting stupid likes from fellow idiots. 4 Likes 1 Share |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by frankson1(m): 3:51pm On Mar 26 |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by porthouse7(f): 3:52pm On Mar 26 |
Amigoss:go find work |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by ppogba: 3:53pm On Mar 26 |
Vision101: We assume too much on this platform. What gives you the impression that he has a CV? What makes you think he is not typing his comment as a boi boi from one two by two apprentice shop? What makes you think he has more than a school cert? 6 Likes |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by Freethinker87: 3:54pm On Mar 26 |
Emmastan291: CBN is lending to banks at 25%, banks will lend to businesses with an interest, so 32% is a fair estimate. Some businesses won't survive such high interest repayment so they'll fold. Businesses who do, will pass that cost to their customers. So in football terms, expect prices of locally produced goods and services to go up. Expect layoffs, poverty and austerity in the coming months. While Chief Tinubu celebrates lowering inflation rate in Aso rock. 1 Like 1 Share |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by frankson1(m): 3:54pm On Mar 26 |
Elliotwaveforec: I think it's going to be gradual. After this period, they will study and see how well it has done. 1 Like |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by Kay25(m): 3:55pm On Mar 26 |
Amigoss:And thats why he is raising the mpr |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by Kay25(m): 3:56pm On Mar 26 |
MrPristine:Are u the one borrowing from cbn? |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by Amigoss: 3:57pm On Mar 26 |
porthouse7: Lo WA SE fun iyalaya e |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by ppogba: 3:58pm On Mar 26 |
sameoldguy: It is because greedy Nigerians who should rather look themselves in the mirror but will rather blame everyone except themselves made it so. The vulcanizer who wants to collect N500 to gauge a tire blaming the rise in the exchange rate belongs in this category. The one who has not seen a greenback before but is shouting at the roof top belong in this category. 2 Likes 1 Share |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by Freethinker87: 3:58pm On Mar 26 |
Elliotwaveforec: Why is the inflation rate high? Why did the Naira fall? |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by Freethinker87: 3:59pm On Mar 26 |
kpompey: Chai! Where do they recruit you agbadorians from?
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Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by donproject2(m): 3:59pm On Mar 26 |
Inspirer1: I have done the analysis of the implication somewhere before. |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by Vision101(m): 4:00pm On Mar 26 |
Inspirer1:Savings and investment in money market instruments will become more attractive because of higher yield. As more money is invested there will be less money in circulation ultimately inflation rate will lower. Regarding exchange rate, the lower the volume of naira in circulation the higher the value of naira to other currencies (all things being equal) 7 Likes |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by Vision101(m): 4:04pm On Mar 26 |
GrammarNazi1:Yes.... it's a tool to fight inflation and high exchange rate because it reduces loose money in circulation. 2 Likes |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by Vision101(m): 4:11pm On Mar 26 |
MrPristine:Clueless charlatans? Members of the bankers committee? Your suggestion: make savings unattractive so that the economy will be awash with high volume of naira in circulation to drive up inflation and exchange rate higher. Between you and the members of the bankers committee who is the clueless one? Social media.... ![]() ![]() 4 Likes 1 Share |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by Acidosis(m): 4:12pm On Mar 26 |
iichidodo: How do you pay back after mopping up everything with a promise of 24% interest?? |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by frankson1(m): 4:16pm On Mar 26 |
Freethinker87: It also means that banks can give their customers higher interest rates. 3 Likes |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by Coolgent(m): 4:17pm On Mar 26 |
Agbdo cbn Governor |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by jmoore(m): 4:18pm On Mar 26 |
Omoawoke:You that know something, has inflation reduced since they increased interest rate before this current one? Copy and paste won't solve anything. Inflation has many types. Have you heard about cost push inflation? If you are asked to explain how interest rate will reduce the price of petrol and diesel which are the major factors driving cost of production, you will fail woefully to explain. |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by Vision101(m): 4:18pm On Mar 26 |
fykes:The volatility has abated but the decrease will not come immediately because our traders will be saying that they bought the goods at old rate. The reduction will come most likely when they replenish stock. 1 Like |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by Vision101(m): 4:20pm On Mar 26 |
jmoore:No sir. |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by Vision101(m): 4:24pm On Mar 26 |
ppogba: I wonder ooo ![]() ![]() |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by NAC1666: 4:25pm On Mar 26 |
adeabimbola700:This means that the interest rate is increased to help liquidate the amount of money in circulation thereby forcing the purchasing power .i.e inflation down. This is a medium term plan of reducing the galloping inflation been experienced in the country |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by jmoore(m): 4:25pm On Mar 26 |
Ijaya123:Lack of comprehension is failing most of you. The topic is about interest rate and inflation. Petrol was previously sold at 195 naira. The price went to 650 naira. A business using petrol at 195 naira and that using petrol at 650 naira, which should have a cheaper price? How can higher interest rate make the business using petrol at 650 naira to sell at the price of the business using petrol at 195 naira? |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by Saintinoo(m): 4:27pm On Mar 26 |
sameoldguy: Are you for real? Where is the dollar going down. Dollar went from 1700 to 1400 naira, the next month it went up to 1600 naira, and now it is around 1396 naira? Is that going down? That is price instability, and its bad for the economy. How do you expect prices of imported commodities to go down. 1 Like |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by GrammarNazi1(m): 4:28pm On Mar 26 |
Vision101:Thanks for the explanation. 1 Like |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by jmoore(m): 4:31pm On Mar 26 |
Vision101:If you write 'No sir' in an exam, you will get f9. |
Re: CBN Raises Benchmark MPR By 200 Basis Points To 24.75% by Saintinoo(m): 4:33pm On Mar 26 |
adeabimbola700: It will discourage investors from taking loans from banks, because with the increase in MPR, banks are now paying 24% interest on loan to CBN instead of 22%, remember, it was 18% two months ago. It is a monetary policy that discourage the circulation of money in the economy, but with it negative effect of discouraging investment, is that what we need? Imagine you approach your bank for loan of 1m naira, and your bank ask you to pay 340k interest on loan, because the MPR have been increased and by implication the bank interest rate. Sure you will not take that loan. This brings about decrease in investment, employment and GDP growth. 1 Like |
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