Financial experts commend MPC over benchmark rate reduction vanguardngr.com vanguardnews
Mr. Godwin Emefiele, Governor, CBN; Dr. Okwu Joseph Nnanna, Deputy Governor , CBN; Mrs. Aisha Ahmad, Deputy Governor, CBN; Prof. AdeolaFestus Adenikinju, MPC Member; and Mrs. Alice Karau, Ag. Director, Corporate Secretariat, CBN; at the CBN Head Office, Abuja, on Wednesday, March 28, 2018, following the assumption of duty of the new Deputy Governors and MPC members.
Chizea, Chief Executive Officer, BIC Consultancy Services, said the Monetary Policy Committee decision was a wise one because the inflation rate at 11.31 per cent was dropping. “What is most important is that psychologically, the central bank has spoken and they have told the whole world that things are getting better,” he said.“It means that those economic agents on the margin that have problems with the 14 per cent should now be able to borrow. If that happens, they may now give a boost to economic activities in the country,” he added.
Chukwu said: “If the inflation rate is 11.31 per cent and the monetary policy rate is 13.35 per cent, the reality is that we are still going to enjoy what is called positive yield income because the interest rate is higher than the inflation rate.
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