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The Relationship Between Monetary Policy Rate (MPR) and Bond Prices and Yields in Nigeria

Monetary policy remains a cornerstone of macroeconomic stability in emerging economies, yet its transmission to bond markets is often hindered by structural inefficiencies. This study investigates the impact of Nigeria’s Monetary Policy Rate (MPR) on bond yields and prices from 2015 to 2024, integrating the Expectations Theory of the Term Structure of Interest Rates with empirical analysis. Using monthly data and robust econometric techniques (OLS and VECM), the results confirm a statistically significant positive relationship between MPR and bond yields and an inverse relationship with bond p…

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SHA-256 27d6ed6cb289e04104df74b11ab460d2abdbb09ea48c46993ed99ca38c4a96b2
from https://iiardjournals.org/get/IJEFM/VOL. 11 NO. 3 2026/THE RELATIONSHIP BETWEEN MONETARY 106-114.pdf
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Source	OpenAlex research
Collection	International records
Kind	Document
Publisher	INTERNATIONAL JOURNAL OF ECONOMICS AND FINANCIAL MANAGEMENT
Date	2026-09-11
Type	article
Details	openalex authorships.countries:NG,primary topic.subfield.id:3320\|3321\|3308\|1202\|3303\|3312\|2002\|2000\|2003 + local /\bnige
Found at	https://doi.org/10.56201/ijefm.v11.no3.2026.pg106.114
Archived copy	Look it up in the Wayback Machine
Record ID	`openalex:W7212220710`

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The Relationship Between Monetary Policy Rate (MPR) and Bond Prices and Yields in Nigeria. OpenAlex research, 2026. Vero Archive, record openalex:W7212220710.