At Monetary Policy Retreat, Emefiele Demands New Ideas, New Strategies – THISDAYLIVE

*Inflation hits 5-year high at 18.60%The Governor of the Central Bank of Nigeria , Godwin Emefiele yesterday stated that with the rising global trend of digital economy, the Monetary Policy Committee is expected to chart a new policy direction for the Nigerian economy.

Emefiele noted that in the last eight and a half years, the CBN had done bespoke monetary policies, which had seen Nigeria overcome recession twice in four years. “We have seen what is happening in the global economy and we are going to be addressing those issues and see if we can chart a new course and what next we should do in the coming years to see to it that we provide monetary policy direction for the Nigerian economy.

“Monetary policy has been severely challenged, as its policy space narrowed significantly, in some cases, paradoxically and necessitating the need to rethink monetary policy in the context of emerging challenges and economic transformation.” “In order to ensure the relevance of monetary policy and the role of monetary authorities in the new digital world, MPC members must embrace advanced level understanding of the interplay of digitalisation with monetary policy objectives, targets and tools.”

“Another trend globally is the explosion of the electronic and digital trends themselves. And lastly, the rise of digital currencies. These trends and movements that we are seeing are the main reasons why it is important for a retreat by the MPC to discuss how we would respond to these changes. We have to respond so we can make policies that would affect economic growth, inflation and all the intermediate macroeconomic factors.

Eme still CBN boss , omg 😳 🤦🏿‍♂️🙆🏿‍♂️🙆🏿‍♂️

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