{"id":6534,"date":"2022-10-28T06:02:06","date_gmt":"2022-10-28T06:02:06","guid":{"rendered":"https:\/\/file.currentschoolnews.com\/?post_type=product&p=6534"},"modified":"2022-10-28T12:43:08","modified_gmt":"2022-10-28T12:43:08","slug":"an-evaluation-of-the-influence-of-monetary-policy-on-the-performance-of-commercial-bank-in-nigeria","status":"publish","type":"product","link":"https:\/\/pastexamquestions.com\/product\/an-evaluation-of-the-influence-of-monetary-policy-on-the-performance-of-commercial-bank-in-nigeria\/","title":{"rendered":"An Evaluation of the Influence of Monetary Policy on the Performance of Commercial Bank in Nigeria"},"content":{"rendered":"

– An Evaluation of the Influence of Monetary Policy on the Performance of Commercial Bank in Nigeria –<\/strong><\/span><\/p>\n

Download An Evaluation of the Influence of Monetary Policy on the Performance of Commercial Bank in Nigeria<\/strong><\/span>. Students who are writing their projects can get this material to aid their research work.<\/span><\/span><\/p>\n

Abstract<\/strong><\/h3>\n

This study examines the impact of monetary policy on economic growth in Nigeria. The study uses time-series data covering the range of 1990 to 2010.<\/p>\n

In concluding the analysis, multiple regressions were employed to analyze data on variables such as money supply, interest rate, financial deepening and gross domestic product. They were all found to have marginal impact on the economic growth of Nigeria.<\/p>\n

The study shows further, the aims and objectives of monetary policy, which includes price stability, maintenance of balance of payment equilibrium, full employment and economic growth. In summary, the study found marginal impact on growth due to change in monetary policy application.<\/p>\n

The study recommends that to fasten up the rate of growth of the Nigerian economy, the government needs to initiate and push forward effective and efficient monetary policy measures via money supply, interest rate<\/p>\n

and financial deepening in order to adequately stabilize prices, reduce poverty and inequality there by encouraging holistic macroeconomic growth.<\/p>\n

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Introduction<\/strong><\/h3>\n

1.1 Background of the Study<\/strong><\/p>\n

Monetary policy is one of the macroeconomic instruments with which nations (including Nigeria) do manage their economies, Ajie and Nenbe, (2010).<\/p>\n

According to Ubi, et al (2012), monetary policy is an aspect of macroeconomics which deals with the use of monetary instruments designed to regulate the value, supply and cost of money in an economy, in line with the expected level of economic activity.<\/p>\n

It covers gamut of measures or combination of packages intended to influence or regulate the volume, prices as well as direction of money in the economy per unit of time.<\/p>\n

Specifically, it permeates all the debonair efforts by the monetary authorities to control the money supply and credits conditions for the purpose of achieving diverse macroeconomic objectives.<\/p>\n

In Nigeria, the responsibility for monetary policy formulation rests with the Central Bank of Nigeria (CBN) and the Federal Ministry of Finance (FMF), Ajie and Nenbe, (2010); Ajayi and Atanda, (2012); Abata et al., (2012).<\/p>\n

In Nigeria as in other developing countries, the objectives of monetary policy include full employment, domestic price stability, adequate economic growth and external sector stability.<\/p>\n

The supplementary objectives of monetary policy include smoothening of the business cycle, prevention of financial crisis and stabilization of long term interest rates and real exchange rate, Mishra and Pradhan, (2008).<\/p>\n

In pursuing these objectives, the CBN recognizes the existence of conflicts among the objectives necessitating at some points some sort of trade-offs Uchendu, (2010).<\/p>\n

The Bank manipulates the operational target (monetary policy rate, MPR) over which it has substantial direct control to influence the intermediate target (broad money supply, M2) which in turn impacts on the ultimate objective of price stability and sustainable economic growth, Okafor, (2009); Uchendu, (2009).<\/p>\n

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