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WAEC Economics 2013 Question 35

Question 35

Financial Institutions

All rates of interest in a country are influenced by the

  1. A.bank rate.
  2. B.population growth rate.
  3. C.wage rate.
  4. D.mortgage rate.
Show the answer and explanation

Answer: A (bank rate.)

Explanation

The central bank's bank rate sets the base for all other interest rates.