After almost four decades of price stability, inflation has recently approached historical highs. Initially driven by global energy and food price increases, the magnitude of the surge in inflation caught central banks and markets by surprise. Price pressures are now increasingly broadening to...

Many studies have considered the efficacy of the Central Bank of Nigeria (CBN)'s monetary policy to ensure Deposit Money Banks (DMBs) performance in Nigeria but scantily mentioned in literature are assertions on other roles that the Asset Management Corporation of Nigeria (AMCON) - an agency...

The main objective of this paper is to estimate a Central Bank reaction function that accounts for the effects of directors’ rotation of the Brazilian COPOM (Monetary Policy Committee). The reaction function proposed is assumed to be the mechanism for inflation targeting policy. It accounts...

In Africa, a number of countries like South Africa have adopted inflation targeting. In Nigeria, different monetary policy regimes have been adopted over the years with rather unsatisfactory success. This study examines inflation targeting in Nigeria and South Africa, using fully modified least...