2008-08-05 | TED-FEM-FPC-GEN-01-082-08

Central Bank of Nigeria's Communique No. 57 of the Monetary Policy Committee, August 5, 2008

The Monetary Policy Committee of the Central Bank of Nigeria met on August 5, 2008, to discuss key macroeconomic developments and determine appropriate monetary policy actions. The Committee noted that while the domestic macroeconomic outcomes were mixed, the international financial markets had deteriorated further, with a slowdown in global economic activities and rising inflation. The Committee expressed concern about the sharp rise in inflation and the threat of sustained rapid growth in money and credit aggregates, and decided to maintain a restrictive monetary policy stance to counterbalance the excessive expansionary fiscal stance.

Nigeria

Central Bank of Nigeria

Show thumbnail