Lagos, May 25, 2021 The Association of Capital Market Academics of Nigeria (ACMAN) says retention of all policy parameters by the Central Bank of Nigeria (CBN) is in line with expectations, due to stagflation.
Stagflation refers to an economy that is experiencing a simultaneous increase in inflation and stagnation of economic output.
Naija247news reports that the Monetary Policy Committee (MPC) of the apex bank, at the end of its two-day meeting on Tuesday, retained all policy parameters.
The committee retained the Monetary Policy Rate (MPR) – benchmark interest rate – at 11.50 per cent, while asymmetric corridor remained at to +100/-700 bps around the MPR
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As temperatures rise, extreme weather displaces record numbers of people May 24, 2021 9:56 AM CDT By Ajit Niranjan
A man pulls his son in a cooler with his wife as they wade through their flooded street to reach an open convenience store in Bonita Springs, Florida | David Goldman/AP
Storms, floods, wildfires and droughts drove more than 30 million people from their homes last year, as rising temperatures wrought extra chaos on the climate, according to a report published Thursday by the Internal Displacement Monitoring Center (IDMC).
Climate change forcing farmers into cities
Climate displacement
The annual report, in its sixth year, found more than 80% of the people forced from their homes in 2020 were in Asia and Africa.
In Asia, most of the people forced to flee did so because of extreme weather. In countries like China, India, Bangladesh, Vietnam, the Philippines and Indonesia where hundreds of millions of people live on low-lying coastlines and deltas a combination of population growth and urbanization has left more people exposed to floods that have grown stronger as sea levels have risen.
The most severe cyclone to hit India in two decades made landfall on Monday, forcing authorities to evacuate 200,000 people in the state of Gujarat. But while early warning systems can save lives by pulling people out of harm s way, many of the displaced do not have a home to come back to. When Cyclone Amphan struck Bangladesh last year it forced 2.5 million people to flee and destroyed 55,500 homes, according to