Wednesday, 14 March 2018

LUKMAN OTUNUGA'S COMMENT ON CPI & INFLATION REPORT

Lukman Otunuga
Market expectations that the Central bank of Nigeria will eventually cut interest rates are likely to mount, as inflationary pressures in Nigeria become a thing of the past.

February data shows annual inflation in Africa’s largest economy has eased for the 13th consecutive month, and continues to point to encouraging signs of price stability. While it may be slightly premature for the Bank of Nigeria to take action amid the current inflation level, continual signs of consumer prices easing could provide an opportunity to act sooner than anticipated.

A rate cut by the central bank should support the nation further, as it continues its mission to diversify by deriving economic growth from other sustainable sources.

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