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November 20, 2019
The stance of Monetary Policy in the review period remained accommodative as the Monetary Policy Rate was maintained at 13.50 per cent. On month-on-month basis, broad money supply (M3), grew by 2.2 per cent to N35,675.9 billion at End-July 2019. The development reflected the 3.4 per cent growth in domestic credit (net), which more than...
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Monetary Policy refers to the specific actions taken by the Central Bank to regulate the value, supply and cost of money in the economy with a view to achieving Government’s macroeconomic objectives. For many countries, the objectives of monetary policy are explicitly stated in the laws establishing the central bank, while for others they are...
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