the significant impact of monetary policy instrument on the inflation rate of Nigeria

📄 Project Abstract

The word inflation ring bell in the market economy of the world, and has become a household name in most African countries today Nigeria inclusive. Inflation is a monster that threatens any economy although some author argues that it moderate is required for sustainable economic growth; however it is noted that inflation is inimical to economic growth. The problem of inflation surely is not a new phenomenon because it has remained a major problem in the country over the past few years. In the words of Adenuga, et al (2012), it is a monster which threatens all economies because of its undesirable effects. Inflation can be defined, as a significant and sustained increase in the general price level over a period of time. According to Umaru and Zubairu, (2012), the concept of inflation can be defined as a persistence rise in the general price level spectrum of goods and services in the country over the long period of time. Although several people, producers, consumers, professional, trad...