The Governor of the Central Bank of Nigeria, Dr. Olayemi
Cardoso, said monetary policy measures put in place by the apex bank would
substantively tackle Inflation in the next two quarters.
Cardoso disclosed this on Friday during his remark at the
58th Bankers Dinner of the Chartered Institute of Bankers of Nigeria in Lagos.
According to him, the measures put in place by the CBN have
started yielding results as month-on-month inflation growth is declining.
“While absolute Inflation is still rising, the declining
rate of growth indicates progress. The CBN is confident that we can manage
Inflation effectively with continued tightening measures for the next two
quarters.
“Month-on-month Inflation has also begun to decline, with a
growth rate of 0.67 per cent in October compared to 0.97 percent previously”,
he said.
Nigeria’s Inflation had continued to soar, reaching an
all-time high of 27.33 per cent in October 2023.
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