This study examined the relationship between bank rate and lending interest rate in Nigeria from 1986 to 2014. The annual data were interpolated into quarterly series. The broad objective of the study is to ascertain the impact of bank rate on lending interest rate by way of finding if any relationship exists between bank rate and lending interest rate in Nigeria within the period of study. In order to achieve the objective, econometric analysis of Ordinary Least Squares regression method and the co-integration/error correction model were used. The major finding of the study is that there is a significant positive relationship between bank rate and lending interest rate and an inco
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