the impact of monetary policy on bank credit in Nigeria

📄 Project Abstract

This study is aimed at understanding the economic importance of monetary policy and its effects on bank credit in the economy between the years 1981 and 2019. Monetary Policy is a measure designed by the Government or Central Bank to control the cost, availability and supply of credit. The goals of monetary policy are basically to control inflation, maintain a favourable balance of payment position in order to safeguard the external value of national currency and promote adequate and sustainable level of economic growth and development. These goals are being achieved by controlling money supply in order to enhance price stability (low and stable inflation) and economic growth. This action is implemented through the apex bank by varying money supply or interest rates with the aim of regulating as well as controlling the quantity of money in the economy. Money play an important role in any economy and this has made policy makers and other relevant stakeholders to accord special attention...