Hiya, my people! Wetin dey happen? E be like say Nigeria don catch some good vibes as inflation don drop small, wey make many pipo dey reason say the Central Bank fit sharp sharp reduce interest rate soon.
As dem release inflation figures for January, instead of the wahala wey many sabi analysts don dey expect, the inflation rate surprisingly drop to 15.10 percent from 15.15 percent wey dey last month. E seem say food prices don cool down small, and this one dey bring some sunshine into our economy!
Lukman Otunuga, wey dey work for FXTM, talk say dis kind slow down na big gaff for the CBN to relax dem monetary policy wey don dey strict since last year. The steady rise of naira, wey don grow about 8 percent against dollar this year, join body make di case for rate cut stronger.
As dem wan meet next week, analysts dey wonder how much the CBN go cut the rate. Everybody don dey hope say this rate cut go make borrowing cheaper for people and business, wey go help boost economy wey dey shake small.
Dr. Muda Yusuf, wey be CEO of CPPE, too carry mouth talk say na jolly news wey dis January inflation bring. He confirm say inflation don fall from 27.61 percent last year shameful January. Dis tan don’t mean sey food price don improve and household wey dey struggle go get chance to breathe small.
However, no be all joy dey! Dem dey caution say if food prices drop too much, e fit weaken farmers wey dey depend on di income for survival. So, the government gatz carry hand enter to balance di food market make nobody chop slap for future.
Nigeria market don change small anyway, as this inflation moderation fit show say new day don break for our economy. Investors dey look out for how dis go fit affect their tin, since less inflation mean say people fit buy more things.
But as all dis dey happen, no forget say global news dey affect us. Geopolitical wahala, US economic updates like PCE and GDP go still affect how naira dey perform against dollar and others. If CBN fit manage this inflation matter well, e go be like say better days dey ahead!
So, my people, make we keep our ears to the ground. Wetin you think? E go be good move if dem cut di interest rate? Or you dey fear say it go cause more wahala? Let’s gist!
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