Answer to Question #93708 in Macroeconomics for Deborah

Question

effectivness of conventional and unconventional monetary policy in stabilizing price in Nigeira economy

Answer 1

The Nigerian government is still collaborating with monetary authorities to adopt monetary policy for it to regulate its economy. Central Bank of Nigeria (CBN) adopts both conventional and unconventional monetary policies simply because they have been successfully integrated and implemented in economic development. Despite the adoption of monetary policies in Nigeria the issues that affect its economic development still persists. Such issues include low investment, high inflation rate, high unemployment rates and flactuation of foreign exchange rates. These issues have led to a rapid decline in Nigeria's economic growth.