cbn statement, 2011-05-24
If the Central Bank, which is also financial adviser to the Federal Government, is unable to convince it to adopt a more prudent fiscal stance, then I believe that tightening monetary policy which will further crowd out an already battered private sector and negatively impact on the current banking sector distress resolution, may not be enough to contain Naira speculators even in the near future.
Sentiment: neutral
Topic: mp_economic_activity