Economic and Financial Review
Publisher
Central Bank of Nigeria, Research Department.
Keywords
lnter-bank Rote, Monetary Policy Rate, Cointegration, Financial stability
Abstract
Interbank markets are among the most important in the financial system. They are the focus of central banks implementation of monetary policy and have a significant effect on the economy. It is the relationship between the inter-bank and monetary policy rates that this paper examined. The findings indicate that the rates are co-integrated and have a long-run relationship, judging from the significance of the unit root test for the residual and the coefficient of the error correction variable in the error correction model.
Issue
48
Volume
2
Recommended Citation
Bulus, Y. F. (2010). The Nigerla inter-bank and monetary policy rates nexus: any discernable long run relationship? Economis and Financial Review, 48(2), 1-34