Nigeria’s economy gets $1.5 billion inflow days after MPC meeting, says CBN

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1

Thoughts

MPC rate of 26% is so unusual, but still below inflation at 31%.
If banks borrow from the Central Bank at 26%, how much deposit interest rate should they pay to customers? Lending rate?
The reforms have had tsunami impacts. So should the policy responses be. These all appear to be headed in the right direction.

2

The CBN people have an impossible job. We are burying a dead economy to stabilize the currency. I hope appreciation in naira is seen in reduced prices. How will CBN pay interest on its own debt?

3

Nothing is impossible. When you are between the devil and the deep blue sea, you must still choose one.
What better options can you imagine?