Economic analysts yesterday charged the Central Bank of Nigeria (CBN’s) Monetary Policy Committee (MPC) to hold all rates, citing the global crisis occasioned by coronavirus pandemic. “This is not the time tinker with interest rates as it is of no effect or Cash Reserve Ratio (CRR) or Loan to Deposit Ratio. The MPC meeting may just offer some advice to the CBN in view of rectifying what has been done so far. “Based on these, we expect the CBN to lower the interest rate in line with the stimulus package. It would be recalled that the MPC retained all key policy rates in March amid the impact of COVID-19 on the global and Nigerian economy.

Source: The Guardian May 26, 2020 03:45 UTC