Wrong recipe for curbing inflation
Nigeria hikes interest rate
The policy of influencing the direction of the economy through interest rates and money supply is not the best strategy for fostering inclusive, employment-generating and poverty-alleviating economic growth in Nigeria, argues Prof Stephen Onyeiwu.
Stephen OnyeiwuThe Central Bank of Nigeria recently announced an increase in the interest rate, from 11.5% to 13%, a 1.5 percentage point hike that took effect immediately.Whenever...
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