Paraman:
The steps taking by the CBN so far has made inflation rate slow down. By may, June or July, inflation should start falling

Trimjos:


Seun and the mods you mentioned are not fools. Keep ridiculing yourself😛

Paraman:
You're in pains

Trimjos:


Stop masking ur pains with the laugh emoji

samwillyco1:


In the next election everybody will reason beyond ethnic, religious and geographical location/ sentiment during voting.

Nigerians are suffering except politicians and their boys.

Vote wisely


How are you sure? When we still have a large population of have people who are destined to be slaves for eternity.
Vote wisely
Vote wisely during next election.

Paraman:
The steps taking by the CBN so far has made inflation rate slow down. By may, June or July, inflation should start falling

Paraman:
The steps taking by the CBN so far has made inflation rate slow down. By may, June or July, inflation should start falling

steeltrust:
Expect dollar to raise and naira to fall to 1850 or so

Paraman:
The steps taking by the CBN so far has made inflation rate slow down. By may, June or July, inflation should start falling

Ogbodavies:
dis govt dey carry Nigerians play over 9.5 odd 'Ghana vs Nigeria match,

Paraman:
The steps taking by the CBN so far has made inflation rate slow down. By may, June or July, inflation should start falling

bdon123:

U are very stupid....do u hav millions in loan taken frm bank?imagine u took a loan 2 years ago at 15% n now its 27% repayment jst like that.
Where do u start frm

membranus:
I have never heard of CBN of lowering the MPC interest rate over the years, they are always increasing it. Why?

Sultannayef:


It’s more than 27%. Banks do add some percentage on top when lending. You won’t get any loan below 30%.

ogododo:

The Central Bank of Nigeria (CBN) has raised the interest rate by 150 basis points from 24.75 per cent to 26. 25 per cent.

Following a two-day meeting, the bank’s Monetary Policy Committee (MPC) agreed to increase the Monetary Policy Rate(MPR) for the third straight time to rein in the country’s soaring inflation levels pegged at 33.69% in April 2024.

“The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 295th meeting on the 20th and 21st of May 2024 to review recent economic and financial developments and assess risks to the outlook,” the CBN Governor Yemi Cardoso who is also the MPC chairman said on Tuesday.

“Decisions of the MPC. The committee’s decisions are as follows: 1. Raise the MPR by 150 basis points to 26. 25 per cent from 24.75 per cent.”

Cardoso, however, said the Cash Reserve Ratio (CRR) of Deposit Money Banks (DMBS) was retained at 45 per cent. The MPC also put the Asymmetric Corridor around the MPR at +100 and –300 basis points. It retained the liquidity ratio at 30 per cent.

The CBN chief who admitted the rising inflation levels in the country said the key focus of the MPC meeting was to achieve price stability by using tools available to rein in inflation.

He said the inflation pressure is being driven largely by food inflation, citing rising costs of transportation, infrastructure challenges, security challenges, and exchange rate issues as among the factors affecting food inflation.

Monday’s announcement comes amid soaring prices of commodities and a rising cost of living.

Pushed majorly by the removal of fuel subsidy last year and the floating of the naira, Nigerians are battling historic inflation levels.

Despite protests and pressures from labour unions, President Bola Tinubu has repeatedly called for patience, expressing optimism that his government’s reforms will yield fruit.

In a bid to combat the falling value of the naira, the CBN in recent months targeted the operations of cryptocurrency exchange Binance.

https://www.channelstv.com/2024/05/21/breaking-cbn-raises-interest-rate-to-26-25-per-cent/

Timmi:


obviously you lack understanding of simple economics.

Doyin2:


Because we have mumu and insane CBN officials always applying textbook economic theories without considering local conditions and circumstances.

They are insane because insanity is when you keep on doing the same thing and expect different result.

Nigeria’s inflation is import and cost push,CBN officials over the decades kept on assuming our inflation Is due to excess money supply and expecting very volatile portfolio foreign investment.

Konquest:

The bolded is succinctly stated.

Central Bank Governors worldwide keep mouthing and using these text book economic theories and end up muddling up the entire purchasing power of folks around the world. That reference to inflation or hyperinflation being triggered by excess money supply simply riles me whenever I hear it.

To control inflation due to the aftermath of the COVID-19 lockdowns and the Russian-Ukraine War, the United States FED increased interest rates month after month starting from March 2022 but with increasing interest rates come higher costs of borrowing from banks for businesses and others.

fullclub:


As a macro economic student.... It will help slow down the inflation as money will be sucked from the system.

It's a contractionary monetary policy that makes less money available for borrowers and people will rather safe there funds than spend it as it guarantees more interest.

But the downside is it slows down investments

karkinase:

No it’s the reverse Naira will strengthen but for how long…

Paraman:
The steps taking by the CBN so far has made inflation rate slow down. By may, June or July, inflation should start falling

IdeasPro:

What month are you now? March and April, abi?

Nwaokunkpara:



You're very senseless to think that whatever economic policy this administration has adopted so far have meant well for the populace.

Raising interest rate is meant to curb inflation but in Nigeria the reverse is the case

givedemwotowoto:
You raise interest rates when there’s inflation, to slow down the economy a little bit

In Nigeria’s case, however, people already have low purchasing power, so slowing down the economy will become even more disastrous

Businesses who are already struggling to sell, will borrow at higher interest rates and transfer the cost further to the buyers