Responsiveness of Nigeria's Short-Term Interest Rates to Changes in the Policy Rate

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dc.contributor.authorTule, M. K.
dc.date.accessioned2018-03-26T10:05:17Z
dc.date.available2018-03-26T10:05:17Z
dc.date.issued2014-09
dc.description.abstractThis paper appraises the efficacy of the Monetary Policy Rate (MPR) as an anchor for other short-term interest rates in the economy. Adopting the vector autoregression approach, the responses of Nigeria's short-term interest rates to changes in the interbank rate (proxy for MPR) was modeled. The paper found that the pass-through from MPR to money market interest rates in the long-run is higher for the prime and lending rates than for changes in the Treasury bill rate and 3-month deposit rate. Overall, there seemed to be an asymmetric impact with an increase or fall in the interbank rate.en_US
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dc.description.provenanceApproved for entry into archive by Ifeanyichukwu Ohaju (ifohaju@gmail.com) on 2018-03-26T10:03:19Z (GMT) No. of bitstreams: 1 Pages from CBN EFR Vol 52 No 3 September 2014-4 Tule, M. K..pdf: 342324 bytes, checksum: b2bf5765d2a4bb56c91a128c807208dd (MD5)en
dc.description.provenanceApproved for entry into archive by Ifeanyichukwu Ohaju (ifohaju@gmail.com) on 2018-03-26T10:05:00Z (GMT) No. of bitstreams: 1 Pages from CBN EFR Vol 52 No 3 September 2014-4 Tule, M. K..pdf: 342324 bytes, checksum: b2bf5765d2a4bb56c91a128c807208dd (MD5)en
dc.description.provenanceMade available in DSpace on 2018-03-26T10:05:17Z (GMT). No. of bitstreams: 1 Pages from CBN EFR Vol 52 No 3 September 2014-4 Tule, M. K..pdf: 342324 bytes, checksum: b2bf5765d2a4bb56c91a128c807208dd (MD5) Previous issue date: 2014-09en
dc.description.sponsorshipCentral Bank of Nigeriaen_US
dc.identifier.citationTule, M. K. (2014). Responsiveness of Nigeria's Short-Term Interest Rates to Changes in the Policy Rate. Economic and Financial Review, 52(3), 49-69en_US
dc.identifier.issn1957-2968
dc.identifier.urihttp://repo.cbn.gov.ng/jspui/handle/123456789/144
dc.language.isoenen_US
dc.publisherResearch Department, Central Bank of Nigeriaen_US
dc.relation.ispartofseriesEconomic and Financial Review;Vol.52, No.3
dc.subjectInterest Rate Pass-throughen_US
dc.subjectMoney Market Ratesen_US
dc.subjectVector Error Correctionen_US
dc.subjectPolicy Rateen_US
dc.subjectNigeriaen_US
dc.titleResponsiveness of Nigeria's Short-Term Interest Rates to Changes in the Policy Rateen_US
dc.typeArticleen_US

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