Comercio Partners: How Interest Rate Hike Will Impact SMEs, Consumers Oluchi Chibuzor Comercio Partners, an investment bank firm, has projected that the further increase in the Monetary Policy Rate or MPR, the benchmar
Comercio Partners, an investment bank firm, has projected that the further increase in the Monetary Policy Rate or MPR, the benchmark interest rate of the Central Bank of Nigeria , to 17.5 per cent will likely translate to higher funding cost for Small and Medium Enterprises and increased cost of living for consumers.
He said as a result, SMEs will pay more to borrow funds needed for their businesses, and this increased cost will translate to higher price of goods and services for consumers. “So, it is yet to be seen how this will impact the real sector but the likely impact will be felt by SME and other consumers on the cost of borrowing to finance business and likely increase in cost of living for an average Nigerian,”
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