Firms expect borrowing cost to decline in 3 months

By Elizabeth Adegbesan
Firms are expecting borrowing cost for banks’ loans to decline in the next three months deapite seeing rates elevated in July.
This was contained in the Central Bank of Nigeria’s, CBN, latest Business Expectation Survey Report.
CBN said: “Respondents expect borrowing rates to remain elevated across the same periods, as indicated by the consistently positive borrowing rate indices.
“The relatively stable indices, fluctuating around 18-19 points, suggest expectations of a marginal decrease in borrowing costs over the near – to medium term.”
The survey report also showed that the Business Confidence Index was 5.7 points, reflecting continued optimistic sentim...