The Managing Director/Chief Executive of Cowry Treasurers, Mr Charles Sanni, noted that the MPC should consider cutting the interest rate, which currently stands at 26.75 per cent.
“With inflation trending down in two consecutive months, the members of the MPC may likely lower rates. And the CBN has shown a sign of this with the reduction of Treasury Bills rates,” he asserted.
He stated that no company could access funds at the current 26.75 per cent interest rate, adding other economies like the United States had cut rates.
Also, a Professor of Forensic Accounting at Copperstone University, Zambia, Richard Mayungbe, told The PUNCH that the interest rate hike by the central bank had become an overkill.
He projected that the MPC might lower interest rates in response to the inflation rate, which decelerated in July and August.
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