Great article. I was going to raise a question regarding increased debt for business and individuals that have to rely on loans. Doesn’t that counter the plan, since more people will have to rely excessively on third party for loans (with ridiculous interest rates) because CBN tends to support more deposit and withdrawal for banks.
Hi Dolapo! Interesting observation, while higher interest rates may pose challenges for borrowers, I think it's crucial to strike a balance between controlling inflation and supporting economic growth. Our policymakers must consider the broader objectives of monetary policy while implementing these measures to mitigate the impact of higher borrowing costs on businesses and individuals.
Hi sarah, thanks for this, as a finance newbie please i want to ask sunce you spoke of the effects, are they always from the local purview or do global or external factors also come into play?
How do global economic trends and events influence the decisions made by the Monetary Policy Committee?,
Hi Emmanuel, smart question! The Monetary Policy Committee (MPC) looks at what's happening globally, like changes in prices, interest rates in other countries, and how the world economy is doing. This helps them decide on things like interest rates here at home, making sure it helps our economy stay stable and grow.
You see why i need you in my life. this was well delivered babe.
Thank youuu! Got you always
Great article. I was going to raise a question regarding increased debt for business and individuals that have to rely on loans. Doesn’t that counter the plan, since more people will have to rely excessively on third party for loans (with ridiculous interest rates) because CBN tends to support more deposit and withdrawal for banks.
Hi Dolapo! Interesting observation, while higher interest rates may pose challenges for borrowers, I think it's crucial to strike a balance between controlling inflation and supporting economic growth. Our policymakers must consider the broader objectives of monetary policy while implementing these measures to mitigate the impact of higher borrowing costs on businesses and individuals.
Such an awesome read, I absolutely love every bit of it. Please keep it coming.
On the topic, I might have to review my personal monetary policy as well lol
Thank you Kehinde, don't forget to stay tuned for more.
Absolutely loved reading this! ☺️
Thank you Lisa, more on the way!
What an eye opener
Thank you.
Thank you Mary, glad you liked it!
I love how you breakdown complex concepts ,keep up the amazing work my guru.
Thank you Uje, i hope to hear from you more often!
I feel smarter. Thank you.
You're most welcome Fumnanya!
Hi sarah, thanks for this, as a finance newbie please i want to ask sunce you spoke of the effects, are they always from the local purview or do global or external factors also come into play?
How do global economic trends and events influence the decisions made by the Monetary Policy Committee?,
Hi Emmanuel, smart question! The Monetary Policy Committee (MPC) looks at what's happening globally, like changes in prices, interest rates in other countries, and how the world economy is doing. This helps them decide on things like interest rates here at home, making sure it helps our economy stay stable and grow.
Brilliant piece, once again from Sarah. Thank you Finance Rookie.
Thank you boss
Wow, this is really educative. I think I understand the idea now
I'm glad you do!
Thank you for this👏🏾 well written 👍🏾
Thank you for taking the time to read it!
Immensely well written, delivery was succinct and relatable!!! Applauds!
Thank you very much Tosin!
Thank you so much for this, now I understand 👏🏽