CBN Refuses To Agree With Adeosun Over Interest Rate Cut



The Central Bank Governor, Mr. Godwin Emefiele, has refused to back the Minister of Finance, Mrs. Kemi Adeosun on the reduction on interest rate, this is an indication of the inadequate proper coordination between the country’s fiscal and monetary authorities

Mr Emefiele, while speaking with reporters immediately after the Monetary Policy Committee, MPC, meeting in Abuja, said that rate cuts in the past did not result in banks giving credits to the real sectors of agriculture and manufacturing, as instructed.

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He explained further, a cut in the rate at a time the inflation is rising could worsen the nation’s economic situation.


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