Monetary Policy
MPC Press Release - Nov. 2014
Wednesday, 12 November 2014 00:00

The latest forecast indicates that inflation would continue to remain outside the target band but expected to ease gradually towards the medium term target band of 8.0±2 percent in the first half of 2016. The ease in inflation over the policy horizon is contingent on significant fiscal consolidation and maintenance of the tight monetary policy stance. In the absence of these, the inflation target could take a longer duration in excess of twelve (12) quarters to be achieved, considering the vulnerabilities in the economy.

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