 |
Interest Rates Behaviors and Monetary Policy Response |
A stable deposit base as opposed to volatile, short-term funds has started to impact positively on interest rates stability. In order to fast track interest rates stability, the CBN introduced a new framework for the implementation of monetary policy in December of 2006. As part of the new framework, the Bank established a standing deposit and lending facility and replaced the MRR with the Monetary Policy Rate (MPR) which was initially set at 10.0 per cent (but reviewed downwards subsequently). The entire system was designed as a corridor with the lending facility as the upper bound of the corridor while the deposit facility served as the lower bound. The entire corridor had a width of 600 basis points with the MPR at the centre….
Enjoy this article? Feel free to share your comment, idea or opinion in the comment section
Related Articles
|
Roadmap to Power Sector Reform in NigeriaThe availability of reliable Electric Power to the homes and businesses of our citizens has been one item in our national life that we have approached with so much hope and yet experienced so much frustration over the past decades. Various regimes, in the distant past, paid little attention to the s [Read more]
|
Posted: 17 years ago |
|
Resilience - A Strategic Approach to Finishing Strong AlwaysSuccess is not just about how you start but also about how you finish. Whether it's the end of a month, quarter, or year, finishing strong is crucial for maintaining momentum and achieving long-term success. By adopting a strategic approach, you can consistently end each phase with confidence an [Read more]
|
Posted: 2 years ago |
|
|
Gain Report - Nigeria: Grain and feed annualReport Highlights: Although Nigeria dropped from the number one export destination in the world for U.S. wheat in MY2010/11 to third position this year, it remains the most consistent and loyal customer. Sales as of April1 are a record 3.5 million tons, up from 3.3 million tons last year. Consumptio [Read more]
|
Posted: 16 years ago |
