Nigeria c.bank favours growth over inflation targeting
Date 2010/8/17 11:29:43 | Topic: Nigeria
| 20100816
reuters
LAGOS (Reuters) - Nigerian Central Bank Governor Lamido Sanusi said on Monday he would be satisfied with a headline inflation rate of 9.0-9.5 percent and that creating economic growth should be the priority.
"When you have a country of 150 million people with 70 percent below the poverty line, it is extremely important ... to provide a stable environment to ensure growth of the economy is not hampered by some desire to pursue a very low single-digit rate of inflation," Sanusi told CNBC Africa television.
"We have brought inflation down in the last one year from 16 percent to 10 percent. We think we can do single digits and that is good enough, 9 percent, 9.5, would do for me."
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