The Governor of the Central Bank of Nigeria (CBN) Olayemi Cardoso, has called on the fiscal authorities to address new sources of inflation to complement the efforts of monetary policy in achieving price stability.
In his statement published after the last Monetary Policy Committee (MPC) meeting held on 26 and 27 February, Mr Cardoso highlighted the need for collaborative efforts between monetary and fiscal authorities to address the multifaceted nature of inflationary pressures in the Nigerian economy.
He expressed worry over the persistence of inflationary pressures despite efforts to stabilise the foreign exchange market since its previous meeting where the rate was increased by 400 basis points to 22.75 per cent.
