On the backdrop of the sustained hike in monetary policy rates as well as lending rates in banks, chief executives of manufacturing firms have called on the monetary authority to rethink its strategy, saying that exorbitant borrowing cost place a heavy burden on companies and impede their ability to expand the operation and invest in technology. They also decried the …

Meaning of MPR and how it is used in controlling money supply The MPR (Monetary Policy Rate) is the benchmark interest rate used by Financial Institutions to determine lending rates. When CBN increases the MPR, it becomes more expensive for individual and corporates to borrow from financial institutions and this will in turn slow down productive activities. This makes it …