By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Times ReportersTimes Reporters
  • Home
  • News
  • Politics
  • Business
    • Economy
  • Sports
  • Entertainment
  • About Us
  • Bookmarks
Search
  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
© 2024 Times Reporters | All Rights Reserved.
Reading: Cardoso Assures On Taming Inflation Through Conventional Methods
Share
Sign In
Notification Show More
Latest News
Abuja International Motor Fair Goes Fully Covered For First Time, Sets New Standard for Nigeria’s Premier Automotive Event
Business Metro Motoring News Transportation Travel/Leisure
Suzuki By CFAO Offers End-Of-Year Price Slash on Premium Models
Business Metro Motoring News Transportation Travel/Leisure
FAAN Deploys Contactless Payment Solution At Abuja Airport 
Aviation Business Civil Service Infrastructure Transportation Travel/Leisure
TETFund hosts national town-hall meeting to deepen public engagement
Civil Service Infrastructure News
FG revamps agricultural education to boost food security, jobs
Agriculture Business Economy News
Aa
Times ReportersTimes Reporters
Aa
  • Home
  • News
  • Politics
  • Business
  • Sports
  • Entertainment
  • About Us
Search
  • Home
  • News
  • Politics
  • Business
  • Sports
  • Entertainment
  • About Us
Have an existing account? Sign In
Follow US
  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
© 2024 Times Reporters | All Rights Reserved.
Times Reporters > Business > Economy > Cardoso Assures On Taming Inflation Through Conventional Methods
BusinessEconomyNews

Cardoso Assures On Taming Inflation Through Conventional Methods

Publisher
By Publisher Published June 26, 2024
Share
3 Min Read
SHARE

By Chidiebere Ugwu

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reiterated the determination of the Bank’s Monetary Policy Committee (MPC) to tame inflation through conventional methods.

Mr. Cardoso stated this in an interview with Bloomberg in London on Tuesday, June 25, 2024, while sharing key insights on the current state of the market, mainly focusing on the stability of the Naira and inflation rates.

He noted a deceleration in the month-on-month inflation rates, highlighting it as a positive development. He assured that the Monetary Policy Committee (MPC) members remained vigilant in monitoring inflation trends and ensuring a moderation of inflation numbers.

“MPC members will continue to monitor the trajectory and are determined to ensure that they put inflation under control,” he asserted.

While highlighting a period of stability following previous volatility in the foreign exchange market, he expressed optimism about the recent improvements in liquidity and return of confidence to the market.

He attributed the new development to increased liquidity and a calmer approach from market participants on both the buy and sell sides.

“In the past, people were panicking and front-loading their requests,” he explained, stressing that “Now, a lot of that has calmed down. There’s no inclination to do that because liquidity has returned to the market.”

Mr. Cardoso also highlighted the significant achievement of merging disparate exchange rates into a more unified system.

“We had two different rates; right now, we more or less have one rate. And we believe that this is good. It allows companies to plan,” he stated, emphasising the importance of a predictable exchange rate for economic planning and investment.

Furthermore, he expressed confidence in the current market dynamics, where willing buyers and sellers operate freely, noting that it had contributed to the stability of the Naira. He, however, stressed the importance of continuous observation and management to ensure the market benefits all participants.

Governor Cardoso highlighted the crucial role of coordinated monetary and fiscal policies in achieving economic stability, adding that the collaboration was essential for managing the macroeconomic fundamentals that influence the market, aiming to provide the best value for the Naira.

It will be recalled that Nigeria’s annual inflation rose to a 28-year high of 33.95% in May 2024, but recent data from the National Bureau of Statistics reveals that the month-on-month inflation rate had slowed for the third consecutive month, validating the effectiveness of the Central Bank of Nigeria’s monetary policy tightening measures.

Like this:

Like Loading...

Related

You Might Also Like

Abuja International Motor Fair Goes Fully Covered For First Time, Sets New Standard for Nigeria’s Premier Automotive Event

Suzuki By CFAO Offers End-Of-Year Price Slash on Premium Models

FAAN Deploys Contactless Payment Solution At Abuja Airport 

TETFund hosts national town-hall meeting to deepen public engagement

FG revamps agricultural education to boost food security, jobs

TAGGED: Cardoso, CBN, Inflation rate

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Publisher June 26, 2024
Share this Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Telegram Email Copy Link Print
Share
Previous Article Ways and means, new loans increased Nigeria’s debt to N24.3tn – DMO
Next Article Akpabio denies Senate proposed new presidential jets for Tinubu, Shettima
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe
Telegram Follow

– Member of –

- Advertisement -
Ad imageAd image

Latest News

Abuja International Motor Fair Goes Fully Covered For First Time, Sets New Standard for Nigeria’s Premier Automotive Event
Business Metro Motoring News Transportation Travel/Leisure October 7, 2025
Suzuki By CFAO Offers End-Of-Year Price Slash on Premium Models
Business Metro Motoring News Transportation Travel/Leisure October 7, 2025
FAAN Deploys Contactless Payment Solution At Abuja Airport 
Aviation Business Civil Service Infrastructure Transportation Travel/Leisure October 6, 2025
TETFund hosts national town-hall meeting to deepen public engagement
Civil Service Infrastructure News October 6, 2025

You Might also Like

BusinessMetroMotoringNewsTransportationTravel/Leisure

Abuja International Motor Fair Goes Fully Covered For First Time, Sets New Standard for Nigeria’s Premier Automotive Event

October 7, 2025
BusinessMetroMotoringNewsTransportationTravel/Leisure

Suzuki By CFAO Offers End-Of-Year Price Slash on Premium Models

October 7, 2025
AviationBusinessCivil ServiceInfrastructureTransportationTravel/Leisure

FAAN Deploys Contactless Payment Solution At Abuja Airport 

October 6, 2025
Civil ServiceInfrastructureNews

TETFund hosts national town-hall meeting to deepen public engagement

October 6, 2025
Times ReportersTimes Reporters
Follow US

© 2024 Times Reporters | Deigned by AuspiceWeb Graphics. All Rights Reserved.

  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
Join Us!

Subscribe to our newsletter and never miss our latest news!

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?
%d