Economics
Easing Inflation, Stable Naira Show Nigeria MPC May Be Right
- Monetary policy committee forecast to keep key rate at 14%
- Inflation has slowed to the lowest level in two years
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Nigerian central bank Governor Godwin Emefiele’s tight monetary-policy stance and system of multiple exchange rates may have paid off through slowing inflation and a stable naira, and he’s not about to change that soon.
The Monetary Policy Committee is meeting this week with price growth at a two-year low. All but four of the 15 economists in a Bloomberg survey said the panel will continue its unchanged stance on Tuesday.