Zero Equilibrium On CBN's Monetary Policy Committee Decsison Summary: • Headline inflation fell from 15.93% in May to 15.39% in August, while core inflation declined to 13.29%. ZE recognises that this supports some easing, but elevated food, energy and logistics costs indicate that structural cost pressures persist. • The retention of the 45% CRR is therefore central. A high CRR does not prevent lending, but constrains banking-system liquidity and can weaken the transmission of lower policy rates into private-sector credit. •ZE consequently labels the move a “Hawkish Cut”: lowering the price of money without proportionately improving its availability. • The test is whether the cut delivers lower effective lending rates, stronger productive credit and investment, while preserving Naira stability and disinflation. Our thoughts are outlined in the ful article veliw. elow. Read the Full Article: 'Zero Equilibrium on @cenbank 's monetary policy Committee Decision at the 307th MPC Session'. 👇🏾 https://t.co/xVFwbKrBBL