Paul Krugman, the Nobel economist and Professor at Princeton, commented on Trump’s attempt to undermine the independence of the Federal Reserve Bank. He says the common principle of the new monetary policy is simple: monetary policy should be whatever serves Donald Trump’s interests. In South Africa, the Rand tumbled 2.3% after Parliament talked about expanding the mandate of the SARB to include unemployment and growth.
It is in this context of the neo-orthodox monetarists in Nigeria that we seek to analyze the meaning of the audacious 5-year monetary policy blueprint of the CBN.
In the link below, Bismarck Rewane tries to decipher the rationale behind the thoughts whilst highlighting some of the likely unintended consequences on the long run macroeconomic stability of Nigeria.
Do enjoy your read…