Recently, from 2014 the economy ushered in a new spell of moderate inflation with average annual inflation being 16%.We identify Ghana’s foremost macroeconomic problem as inflation persistence.Over the next decade, with the adoption of open market operations (OMO), average inflation dropped to 28%.Tags: Stock Market AssignmentPride EssayTv Should Be Banned EssayShort Essay StoryHelp On Writing A BookProblem Solving With RatiosBusiness Plan Hsbc
Moreover, monetary policy focus should be on long-run output expansion and short-run price-stability, rather than the converse.
This would have the benefit of moderating poverty and unemployment.
Decadal and 5-year analyses of Ghana’s inflation since 1960 also confirm the overall downward trend of Ghana’s inflation to the present day.
Since 2012, a burgeoning of a creeping inflationary spiral is evident.
Finally, the cost and benefit analysis of monetary policy in Nigeria is investigated by estimating a NCM-type Phillips curve.
To understand the dynamics and source of inflation the standard NCM-type Phillips curve is augmented with supply factors.
Essentially, it is a systematic study of the implications of monetary policy in Nigeria, while paying attention to the peculiarities of the Nigerian economy and using a rigorous up-to-date framework.
Effectiveness is investigated by considering some underlying assumptions of the NCM.