Nigerians Prefer Low Interest Rates, High Inflation

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              A report by the Central Bank of Nigeria (CBN) has revealed that Nigerians will rather have inflation rise than experience further surge in interest rates.

               Respondents also believed that the economy would end up weaker if prices rose faster than their current levels.

             “Majority of the respondents are of the view that it would be best for the Nigerian economy if interest rates went down.”

                The survey added:”While some of the respondents are aware that the CBN influences the direction of interest rates to control inflation, majority has no idea.

               However, the CBN, aside from its price and monetary stability mandate, is also tasked with supporting Government’s policies on economic growth.