Explainer: Monetary policy simplified
CBN and MPR. Source: Stears Business

In secondary school, I studied "Science" for three years (junior secondary school). It was an introductory subject, so there was a bit of physics, chemistry, and biology. I enjoyed biology because I could relate to it—after all, we could see most of what we learned there, either in our bodies or that of animals around.

The chemistry bit? My worst! I could never relate. The periodic table was a nightmare. How were we expected to memorise all of those signs and symbols without getting them wrong? It was like gibberish to me. 

For many people, hearing that petrol prices have increased or that the unemployment rate is at 33% might sound like biology because you can quickly see how that affects your daily life. But news like the Monetary Policy Rate (MPR) being 11.5%, Cash Reserve Ratio (CRR) at 27.5% and liquidity ratio at 30% might sound like chemistry, especially

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Gbemisola Alonge

Gbemisola Alonge

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