Open Access. Powered by Scholars. Published by Universities.®

Business Commons

Open Access. Powered by Scholars. Published by Universities.®

Macroeconomics

Central Bank of Nigeria

2019

Articles 1 - 1 of 1

Full-Text Articles in Business

The Central Bank Balance Sheet As A Tool For Monetary Policy: Evidence From Nigeria, E. U. Kure, O. O. Mbutor, U. A. Rotimi, Y. Adamu Jun 2019

The Central Bank Balance Sheet As A Tool For Monetary Policy: Evidence From Nigeria, E. U. Kure, O. O. Mbutor, U. A. Rotimi, Y. Adamu

Economic and Financial Review

The study examined the impact of the Central bank of Nigeria’s (CBN) balance sheet on the growth of private sector credit, economic growth and price stability during the period 2006-2017. Balance sheet indicators used were total assets of the CBN and proxy for asset distribution. Employing a vector autoregressive (VAR) model, the study found balance sheet policies to be effective in reducing cost of credit, increase in bank lending, economic activities and a decline in inflation. However, the effects favour asset dispersion (credit easing) against growth in assets (quantitative easing), implying that the Bank can, in the short- to medium-term, …