Financial Legerdemain by the CBN

Towards the end of 2017, the Central Bank of Nigeria (CBN) started emitting dovish tunes with the governor guiding to a cut in its key Monetary Policy Rate (MPR) – a departure from a largely hawkish policy stance over most of the year.

Though inflation looked set to decline over 2018 on account of base effects eroding, gleaning through recently updated m…