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    Penn State-Themed Restaurant and Entertainment Spot Happy Valley Live Set to Open in State College – StateCollege.com

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    Penn State-Themed Restaurant and Entertainment Spot Happy Valley Live Set to Open in State College – StateCollege.com

    Penn State-Themed Restaurant and Entertainment Spot Happy Valley Live Set to Open in State College – StateCollege.com

    The Police Made Chart History With This 1979 Hit Nearly 50 Years Ago – Yahoo

    How The Police Changed Music Forever with Their Iconic 1979 Hit Nearly 50 Years Ago

    Good Deed Entertainment Acquires Worldwide Rights To Liza Mandelup’s Documentary ‘Caterpillar’ – Deadline

    Good Deed Entertainment Lands Global Rights to Liza Mandelup’s Captivating Documentary ‘Caterpillar

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    Jussie Smollett Claims He Was ‘Disrespected’ on the ‘Special Forces’ Season Premiere – Yahoo

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    TicketSmarter Fall Entertainment Guide – Eastern Illinois University Athletics

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CBN hails inflation slowdown, reiterates commitment to price stability

November 15, 2023
in Business
CBN hails inflation slowdown, reiterates commitment to price stability
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In a chat with journalists in Abuja on Wednesday on the latest NBS figures, Isa AbdulMumin, spokesman of the Central Bank of Nigeria (CBN,) expressed optimism that the slower pace of increase in inflation in October compared to the previous month was a pointer to the fact that the Bank’s tight monetary policy stance and its money market reforms have already started yielding the desired effect.

Isa AbdulMumin noted that Aggressive monetary tightening using various liquidity mechanisms including removing the cap on the Standing Deposit Facility (SDF) and Open Market Operations, had raised Open Buy Back (OBB) rates from less than 1% in August to their expected levels around the monetary policy rate today.

Read also Labour decries rising food inflation

Despite the 0.61% increase in the headline inflation rate from 26.72% in September 2023 to 27.33% in October 2023, Isa remained optimistic that the CBN was headed toward achieving price stability.

According to him, available statistics showed that the first indication of price deceleration was recorded in September. Further reforms in the money market, which commenced in October, had accelerated easing prices as indicated by the substantial drop in month-on-month changes recorded in October.

“Moderation in month-on-month changes in prices observed in the headline, food and core components of the consumer basket followed reforms in the money market and relative stability in the FX market,” he added.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Businessday.ng – https://businessday.ng/news/article/cbn-hails-inflation-slowdown-reiterates-commitment-to-price-stability/

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