Nigeria/June 24, 2019/Agency Reporter /No Comment/114 views /nigeria Emefiele pledges to bring inflation to single digit within 5 yearsshare on:FacebookTwitter Google +Pinterest Tumblr Linked InEmailSend to Email Address:Your NameYour Email AddressEmail check failed, please try againCancelTHE Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, says he will bring inflation to single digit within the next five years. Emefiele made the promise in Abuja on Monday during a press briefing on his policy road map in his second term. The News Agency of Nigeria (NAN) reports that the inflation rate dropped to 11.4 per cent as of May. He said that CBN, under his leadership, would ensure that monetary policy measures would be geared towards containing inflationary pressures.Emefiele said that he would also support improved productivity in the agricultural and manufacturing sectors. He stressed that he would strive to continue to sustain a positive interest rate regime to the delight of the bank’s important stakeholders. According to Emefiele, the decisions of the Monetary Policy Committee on inflation and interest rates will depend on data on key economic variables. ALSO READ: CBN governor Emefiele to unfold new road map for CBN, economy(Opens in a new browser tab) “We will work with other stakeholders and we shall bring down the cost of food items which has considerable weight in the Consumer Price Index basket. “Our ultimate objective is to anchor the public’s inflation expectation at single digits in the medium to long-term. “We believe that a low and stable inflationary environment is essential to the growth of our economy because it will help support long-term planning by individuals and businesses. “Such will also help to lower interest rates charged by banks to businesses thereby facilitating improved access to credit and corresponding growth in output and employment,” he said. Emefiele said that macro-economic stability was key to supporting improved Growth Domestic Product (GDP) growth and greater private sector investment. ALSO READ Yola Prepares For Mega Rally As Atiku Officially Declares For Presidency Today“The bank will leverage monetary policy tools in supporting a low inflation environment while seeking to maintain the stability of the exchange rate,’’ he said. Leave A Comment Below Related Tags:nigeria share on: FacebookTwitter Google +Pinterest Tumblr Linked InEmailSend to Email Address:Your NameYour Email AddressEmail check failed, please try againCancel previous articleNigeria’s Music industry revenue to hit $50 million by 2020 – Report – Premium Times Nigerianext articleEPL: Newcastle Announce Benitez DepatureRelated PostsNigeria/July 17, 2019 /No Comment Killing Of Fasoranti’s Daughter: Igbo Group Issues Strong Warning To BuhariNigeria/July 17, 2019 /No Comment Rwanda to open embassy in Morocco – Premium Times NigeriaRwanda to open embassy in Morocco – Premium Times NigeriaRwanda to open embassy in Morocco – Premium Times NigeriaOyo government recovers five more vehicles from Ajimobi’s aides – Daily Post NigeriaPSG owner sues over illegal transfer payment claim | The Guardian Nigeria News – Nigeria and World NewsEPL: Premier League introduces new rules that will affect Chelsea, Man United, Arsenal, others – Daily Post NigeriaRoad crashes claim 49 lives in Lagos in six months -FRSCRoad crashes claim 49 lives in Lagos in six months -FRSCAdverse Effects Of Yoni Pearls For Vagina Detox Leave a Response Cancel reply CommentName Email Sign me up for the newsletter! Notify me of follow-up comments by email. Notify me of new posts by email.