The Central Bank of Nigeria (CBN) will continue to adopt the Medium-Term Framework for the conduct of monetary policy in 2014/2015. The rationale for the framework is anchored on the fact that monetary policy impacts on its ultimate goal with a lag.
The framework would thus enable the Bank to avoid over-reaction to temporary shocks and time inconsistency problems associated with frequent changes in policies. The 2014/2015 Monetary, Credit, Foreign Trade and Exchange Policy Guidelines covers the period January 2014 to December 2015 and is designed to sustain the gains that the Bank has recorded in recent times with respect to its monetary policy objective of price stability that is conducive to growth.
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