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A financial analyst and Head, Banking and Finance Department at the Nasarawa State University, Keffi, Dr. Uche Uwaleke, says it has become imperative for CBN to signal a gradual easing of monetary policy considering the waning headline inflation.
Also to consider, he said, are the level of stability in the exchange rate on the back of improved liquidity and the marginal positive growth and real GDP recorded in the second quarter of 2017.
Uwaleke said the lending policy rate of Nigeria has been at 14% for 14 months under a tight monetary regime.
However, in carrying out this process, the financial expert maintained that adequate preparation and planning should be carried out by the central bank before any adjustments and changes in the current lending rates of the country as to complement the current Economic and Recovery Growth Plan of the Federal Government.
Daily Trust
