The macroeconomic variables were inflation rate, government expenditure, and foreign exchange rate, index of manufacturing output, broad money supply and minimum rediscount rate
between 1985 and 2007.
The Rediscount rate
and the Overnight Repurchase Agreements will remain unchanged at 4.
It is stated by the bank that it has cut down the rediscount rate
The CBJ kept the interest rates unchanged on other monetary tools, the rediscount rate
and overnight repurchase agreements.
75 percent, the rediscount rate
at 5 percent, the Lombard rate at 6.
In February 2009 the central bank's rediscount rate
dropped to a record low of 1.
The authorities announce a variety of interest rates, such as a bank lending rate, rediscount rate
, and benchmark rates for loans and deposits of different maturities.
For instance, during the first half of 1970s, the average minimum rediscount rate
(MRR) was 4.
Federal Reserve, the Russian central bank could not lower the rediscount rate
in order to facilitate commercial bank borrowing so that the credit crunch in the economy could be overcome via bank lending to businesses.
As for the instruments used, the Central Bank was led to set up a battery of rates in order to supervise the banking rates and direct its intervention, namely: a rediscount rate
set at 15%, an intervention pivot rate over the money market set at 20% and a rate applied to advances to banks set at 24%.
The Central Bank of Nigeria (CBN) led by governor Charles Soludo, recently introduced a new benchmark Monetary Policy Rate (MPR), set at 10%, replacing the Minimum Rediscount Rate
, which was pegged at 14%.
The article examines the use of three different instruments--the rediscount rate
, M2, and reserve money--with several different targets--the growth rate of nominal output, inflation, the percentage change in the exchange rate, and the growth rate of a monetary aggregate.