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Benue State University, Makurdi, Nigeria.
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Nigeria Journal of Management Sciences (NJMS), Benue State University
Monetary Policy and Macroeconomic Determinants of Interest Rate Spread in Nigeria
Tyona Timothy1 , Ucherwuhe Samuel I2 , Awuzie Ijeoma.3:
1Department of Accounting and Finance, University of Agriculture Makurdi, Benue State tersoo2008@gmail.com.
1&2Department of Business Administration, University of Agriculture, Makurdi, Benue State
Abstract
The study examined the impact of monetary policy and selected macroeconomic factors on the interest rate spread in Nigeria from19862015 using secondary data. The study conducted the Johares cointegration test for the analysis of the long run relationship among the variables. Though most of the variables conform to a period expectation, the study recommends among others, a reduction in the CRR to enable banks shore up on rate spreads.Key words: Monetary Policy, Macroeconomic Determinants, Interest Rate.
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