The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, says the apex bank is determined to tame inflation through conventional methods.
He stated this on Tuesday during an interview with reporters in London while sharing key insights on the current state of the market, mainly focusing on the stability of the naira and inflation rates.
Cardoso noted a decline in the month-on-month inflation rates, highlighting it as a positive development.
He also assured that members of the CBN’s Monetary Policy Committee (MPC) remained vigilant in monitoring inflation trends and ensuring a moderation of inflation numbers.
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.