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 CBN to continue 5% interest rate subsidy for Agric, Health, Power, Manufacturing sectors.

CBN to continue 5% interest rate subsidy for Agric, Health, Power, Manufacturing sectors.

The Central Bank of Nigeria agreed to leave interest rates for its development finance actives or intervention funds at 5% per annum until March 2023. 

“The MPC is of the view that rates on the development finance initiatives of the Bank should remain at 5 percent till March 2023.” 

This is coming on the heels of the decision of the monetary policy committee to increase benchmark monetary policy interest rates to 13% from 11.5%. Rate increases of this nature often lead to increases in lending rates across board.  

https://nairametrics.com/2022/05/24/cbn-maintains-interest-rate-for-intervention-funds-at-5/

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