Analysts See Recession, Negatives Ahead For Households, Businesses

Analysts See Recession, Negatives Ahead For Households, Businesses

Author: Africa Business Radio May 31, 2022 Duration: 29:02
News Express
Business
Could the weak macroeconomic fundamentals, runaway inflation and the constraints of the CBN to sustain a dovish stance, due to the external dynamics in operation, bring about a recession in Nigeria?
Almost six years after the CBN (July 2016), the monetary policy committee (MPC) raised policy rates by 200 basis points to 14 per cent, and it has again raised the policy rate by a high 150 basis points in line with the expectations of analysts, who have reacted to the hawkish stance of the policy committee at a time when inflation is on an uptrend, the national output is on a sluggish growth, indicating that the economy is still recovering from the effect of the 2020 recession and the coronavirus pandemic.

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