Monday, November 26, 2018
Advertisement

Inflation rate will drop to single digit by 2018, says Emefiele

Inflation rate will drop to single digit by 2018, says Emefiele
October 27
11:35 2017
Advertisement

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says inflation rates are projected to drop and record high single-digit rates mid-2018.

Emefiele made this known to Journalists on Friday while attending an investment conference at the London Stock Exchange.

While annual inflation in Nigeria eased down to 15.98 percent on rising food prices in September, Emefiele said that an inflation rate of 9 percent will be a moderate target for 2018.

“We are very optimistic that food prices will come down, and as they come down it will help to complement the reduction in core inflation.

“We are hoping that by the middle of next year we should begin to approach the high single digits,” he said.

The CBN monetary policy committee had in August restated its intention to keep interest rate at 14 percent with Emefiele saying that “downward trend in inflation is a welcome development,” even though “the rate was still significantly above the policy reference band”.

RECEIVE ALERTS FROM THECABLE

BBM CHANNEL C0038F78B
WHATSAPP 08113975334
TWITTER @thecableng
Copyright 2018 TheCable. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from TheCable.
Tags
Advertisement

Social Comments

0 Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Write a Comment

Your email address will not be published.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

*

Advertisement
Advertisement
Advertisement

Exchange Rates

November 16, 2018USDGBPEUR
INTERBANK306397354
LAGOS359475418
KANO359476420
PH360476420
ABUJA359478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement
Advertisement