The Impact Of Interest Rate On Other Selected Macroeconomic Variables In Nigeria (1970-2010)

ABSTRACTThis study was embarked upon with a view to determining the impact of interest rate on other selected macroeconomic variables in Nigeria. Data were sourced from CBN Abuja and NBS. Data were analyzed using the ordinary least square regression (OLS). Results indicate that: Interest rate is inversely related investment and also negatively related with GDP. On the basis of the above stated findings some policy recommendations were made.(1)Government should establish policies that encourage increase in savings deposit rate, reduction in lending rates and also, efficient and reliable financi…