Interest rate cut to 11.5% means more liquidity for banks, savings rate drop
… analysts see no spike in credit growth … say confusing message around Nigeria’s willingness to re-open FX market
Nigeria’s central bank’s surprised deeper easing of its benchmark interest rate by 100 basis points to 11.5 percent yesterday from 12.5 percent in May 2020 is seen to translate to more liquidity for banks and further drop in savings rate. After the two-day Monetary Policy Committee (MPC) meeting in Abuja between Monday and yesterday, Godwin…
