Some financial and economic experts have advised the Monetary Policy Committee of the Central Bank of Nigeria to retain the lending rate of 24.75 per cent.Some financial and economic experts have advised the Monetary Policy Committee of the Central Bank of Nigeria to retain the lending rate of 24.75 per cent.
“Headline inflation, which is the composite price index, food basket index, core inflation, urban inflation, and rural inflation. They all went up in the last 12 months, but month on month, between March and April, they all started going down. “At the inception of the new MPC, it has been about tightening. Tightening became necessary because of the amount of money in circulation, which needed to be mopped up.
According to him, it is not supposed to be so, but our economic situation is peculiar because there are other factors outside the purview of the monetary policy that also contribute to a high inflation rate.“Also, the increase in the pump price of PMS has nothing to do with monetary policy,” he said.
“This is due to the significant non-monetary factors driving inflation in Nigeria, such as high cost of energy, transport as well as insecurity in the food-belt regions of the country,” he said.Before flagging, please keep in mind that Disqus does not moderate communities. Your username will be shown to the moderator, so you should only flag this comment for one of the reasons listed above.
Source: Loan Digest (loandigest.net)
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