CBN’s 12.5% MPR means a decline in banks’ lending, deposit rates

With an eye on output growth, the Central Bank of Nigeria (CBN) on Thursday slashed the benchmark interest rate by 100 basis points to 12.5 percent from 13.5 percent, the first easing since March 2019 and the largest since 2015. The move is to spur lending to the economy which faces imminent rece