Monday, 19 September 2016

FG is Considering Interest Rates Slice to Help Economy

Minister of Finance, Kemi Adeosun, has said she wants the central bank to lower interest rates so that the Federal Government can borrow locally to bolster the economy which is currently dogged by a recession.
According to Adeosun, lower interest rates implies the government can access more loans domestically without expanding its debt servicing costs.
The minister articulated this on Monday during a special interview on CNBCAfrica monitored by Vanguard.
She said the central bank needed to re-evaluate the hike in loan fees which it announced at its last meeting in July, in order to support the Naira and attract foreign inflows into the security market.

Source: Vanguard