CBN To Use Conventional Methods To Tame Inflation
The Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso, has reiterated the determination of the Bank’s Monetary Policy Committee, to tame inflation through conventional methods.
A statement from the CBN’s Corporate Communications Department said Cardoso stated this in an interview with Bloomberg in London yesterday while sharing key insights on the current state of the market, focusing on the stability of the naira and inflation rates.
He noted a deceleration in the month-on-month inflation rates, highlighting it as a positive development, assuring that the Monetary Policy Committee members remained vigilant in monitoring inflation trends and ensuring a moderation of inflation numbers.
While highlighting a period of stability following previous volatility in the foreign exchange market, he expressed optimism about the recent improvements in liquidity and return of confidence to the market.
He attributed the new development to increased liquidity and a calmer approach from market participants on both the buy and sell sides.
