Experts Task CBN On Inflation Rate

Some financial experts have called on the Central Bank of Nigeria (CBN) to sustain the current economic growth with expansionary monetary and fiscal policies to achieve a single-digit inflation rate.
The experts made the call in interviews with newsmen  in Lagos while reacting to the September inflation data.
According to them, expansionary monetary and fiscal policies will make economic recovery faster.
Prof. Sheriffdeen Tella of Economics Department, Olabisi Onabanjo University, Ago-Iwoye, Ogun, said that the fall in inflation rate was due to improvement in production output.
Tella said that the improvement could be sustained with expansionary monetary and fiscal policies.
“The restrictive monetary policy of CBN with high interest rates has not made economic recovery faster, and this needs to be looked into,” Tella added.
He said that the improvement could encourage investors to go for credits in the capital market for business expansion.