Key interest rates except maximum lending rate, negative in real terms —MPC member (tribuneonlineng.com)

NEARLY all key interest rates in the economy apart from maximum lending rate are negative in real terms, and ths is generally unhelpful to savings.

Despite recent increases, the Monetary Policy Rate (MPR) which is the benchmark interest rate, has continued to trail the inflation rate presently at 22.22percent.

Adamu Edward Lametek, a member of the Monetary Policy of the Central Bank of Nigeria who made the observation in the Personal Statements by the MPC Members at the 147 Meeting of March 2021, 2023, also expressed worry that with yields rising globally, the domestic economy risks losing continuously on capital flows in an increasingly competitive world. window.aries window.aries window.aries.v1 window.aries.v1 commands const aries window.aries.v1 aries.commands.push(() > const zoneId ‘7238’ const anchor document.getElementById(‘vidverto220384c5a71e46dd814afa69547f2b3f’) anchor.removeAttribute(‘id’) aries.mount(zoneId, anchor, width 720, height 405, ) ) )()>

Interest Rate in Nigeria averaged 11.52 percent from 2007 until 2023, reaching an all time high of 18.00 percent in March of 2023 and a record low of 6.00 percent in July of 2009.

Some of the rates includeNominal interest rate Effective interest rate Annual Percentage Rate (ARP) among others.

They are different types of interest rates.

Keypoints

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