The Bank Directors of Nigeria has expressed concern over the Central Bank of Nigeria’s recent increase in the Cash Reserve Ratio on public sector deposit from 50 per cent to 75 per cent. The directors, in a statement on Wednesday, observed that raising the ratio by 25 per cent just […]
Tag: Cash Reserve Ratio
Nigeria’s Economic Report for Half Year 2012-CBN
Monetary targeting, in principle, remained the framework for monetary management during the first half of 2012. In reality, however, actual implementation of monetary policy adopted an eclectic approach, as attention was focused on both quantity and price variables to achieve the objective of monetary and price stability. In this regard, […]
IMF Supports MPC’s Monetary Policy Tightening
The International Monetary Fund (IMF) has welcomed the restrictive monetary policy stance adopted by the Central Bank of Nigeria’s (CBN’s) Monetary Policy Committee (MPC) since last year. The IMF stated this in its recently released staff report for 2011 Article IV Consultation. Part of the 80-page document, also recommended that […]
