Monetary Indicators Research Articles

ANALYSIS OF THE INFLUENCE OF MONETARY INSTRUMENTS ON THE SIZE OF THE DOMESTIC PUBLIC DEBT

The article is devoted to highlighting the results of research aimed at improving existing approaches to conducting a comprehensive analysis of the nature of the relationships between the parameters of the state's monetary and debt policy. Among other things, such indicators as the size of the domestic public debt, the size of international reserves, the level of inflation, the exchange rate and the discount rate are taken into account.The proposed approach to the analysis of the influence of managed monetary indicators on the size of the internal state debt proved that the use of the ARDL model gives slightly better results than the VECM in terms of the adequacy of the description and forecasting of the studied process. At the same time, both models proved their ability to describe the change in the size of the internal state debt, and have high values of coefficients of determination and low values of the indicator of the average absolute percentage error. In the future, it is recommended to use it for the analysis of the causality of the influence, discriminant analysis and the expediency of changing monetary instruments independently of other instruments.On the basis of the developed models, the results were obtained, which allow us to draw conclusions that the system continues to remain stable after fluctuations of key factors capable of destabilizing it and will be able to return to its previous state after a shock for some time. This is confirmed by the fact that, on the basis of statistical tests, the existence of a long-term relationship between the investigated indicators and the impulse response function together with the decomposition of the variance of the VAR model was proved.

Monetary Policy and Its Impact on Income Distribution in Iraq for the Period 2003-2022

The problem of inequality in the distribution of income is one of the important economic variables that have been focused on in economic studies and research, and the study and analysis of the impact of economic variables in the redistribution of income is of great importance, whether in developed or developing economies, as justice in income redistribution can have important economic effects. This study goes to estimate the impact of some monetary indicators on income distribution in Iraq for the period 2003-2022, where this impact was estimated using the Joint integration according to the self-regression model of distributed slowdown (ARDL) and bound test the results of the test confirmed the existence of a significant impact of the monetary policy indicators represented by the exchange rate, the broad money supply and the interest rate in the redistribution of income in Iraq.

Are the leading indicators really leading? Evidence from mixed-frequency spillover approach

Leading indicators, usually measured at low frequency (e.g., monthly or quarterly), are widely used as pioneering indices to foresee the future perspective of macro economy and financial markets. However, it is not clear whether these low-frequency leading indicators really lead the actual performance of financial markets, which are usually measured at high frequency (e.g., daily or weekly). This paper uses a novel mixed-frequency spillover method of to examine the spillover effects between monthly leading indicators and weekly financial market prices in China, aiming to assess the pioneering function of these leading indicators. The empirical results suggest that, first, some monthly leading indicators can lead the monthly performance of financial markets, but all of them fail to lead the weekly performance of financial markets. Second, the mixed-frequency approach yields much higher spillover measures than the common-frequency method of Diebold and Yilmaz (2012). Third, China's stock and commodity markets are spillover transmitters to other financial markets in both common and mixed frequency conditions. Finally, the China Monetary Index (CMI) and the Manufacturing Purchasing Managers' Index (CPMI) are more effective leading indicators than the China Consumer Confidence Index (CCCI). These findings help investors and policymakers to adjust risk management strategies in a timely manner and facilitate more accurate financial forecasting.

Nexus between Monetary Indicators and Bitcoin in Selected Sub-Saharan Africa: A Panel ARDL

The rapid adoption and growing prominence of Bitcoin and other cryptocurrencies have sparked significant interest and debate among economists, policymakers, and financial analysts. In Sub-Saharan Africa, where traditional financial systems often face challenges such as limited access to banking services, high transaction costs, and volatile currencies, Bitcoin presents both opportunities and risks. Understanding the interplay between Bitcoin and key monetary indicators such as monetary aggregates, exchange rates, and interest rates can provide valuable insights for policymakers and stakeholders in these economies. This study therefore seeks to investigate the nexus between monetary indicators and Bitcoin in selected Sub-Saharan African countries using a Panel ARDL (Autoregressive Distributed Lag) approach. The analysis focuses on understanding the dynamic relationship between key monetary variables, such as monetary aggregates, exchange rates, interest rates, and Bitcoin prices, from 2010 quarter three to 2022 quarter four. The findings reveal several significant relationships between monetary indicators and Bitcoin across the selected Sub-Saharan African countries. In the short run of the Panel Ardl monetary aggregates exhibit a positive relationship with Bitcoin prices, indicating that changes in the money supply may influence the demand for cryptocurrencies. Conversely, both exchange rates and interest rates show a negative relationship with Bitcoin prices in the short run, suggesting that currency depreciation and higher borrowing costs may reduce demand for Bitcoin. In the long run, the relationship between monetary aggregates and Bitcoin remains positive, emphasizing the potential influence of money supply on cryptocurrency markets over time. However, the significance of exchange rates diminishes, indicating a less pronounced impact in the longer term. Interestingly, interest rates continue to exhibit a significant negative relationship with Bitcoin prices in the long run, highlighting the persistent effect of borrowing costs on cryptocurrency demand. These results have important implications for policymakers, investors, and researchers interested in the intersection of monetary policy and cryptocurrency markets in Sub-Saharan Africa. Policymakers may consider the impact of monetary policy decisions on cryptocurrency adoption and market dynamics, while investors can use these insights to inform their investment strategies.

Sectorial economic activity and Divisia monetary aggregates

Abstract This paper assesses the information content and predictive capabilities of Divisia monetary indicators concerning sector-specific economic activities. Although existing evidence strongly supports the informative nature and predictive potential of various Divisia indicators at an aggregate level, studies focusing on Divisia information content for specific industries are notably sparse. Sector-level data provide a more detailed insight into economic and labor market dynamics. By analyzing comprehensive sector-specific data on real GDP, value added, employment, and unemployment rates across thirteen diverse sectors in the United States, this paper investigates the predictive abilities of narrow and broad Divisia money across three categories (original, credit card-augmented, and credit card-augmented inside money). The results show that narrow Divisia money serve as robust predictors of sector-specific economic and labor market indicators, often surpassing the predictive capacity of the conventional Fed funds rate and slightly outperforming broad Divisia measures in relation to these indicators.

Segmentation of Chinese consumer preference for wine extrinsic attributes based on stratification and weighted clustering algorithm

Chinese consumers are unfamiliar with the sensory attributes of wine and often pay more attention to the extrinsic attributes of wine that can most directly present information. Therefore, it is crucial to study consumer preferences for extrinsic attributes. This paper proposes a consumer segmentation method based on stratification and weighted clustering algorithm, leveraging data from an anonymous online survey (N = 3179). The AFR model is constructed based on the RFM model to segment wine consumers from the perspective of customer value. This model removes Monetary indicator and adds a new indicator Amount to eliminate multicollinearity caused by the Frequency and Monetary indicators of RFM model. In addition, factor analysis is used to assign weights to clustering indicators, addressing the problems of unequal weighting and strong correlation among the indicators. This allows for a simple, efficient, and precise segmentation of wine consumers at different levels. The method proposed in this article segments consumers into two layers and six categories: the potential layer includes product-oriented type, amorphous type, and cheap-fine type, while the mature layer comprises the rational type, reputation-price type and random type. This research will provide wine producers and distributors with a simple and efficient basis for production and marketing decision-making. Additionally, it can serve as a reference for consumer segmentation in food and other fields.

Flying High: Revealing the Sustainability Potential of Women in Aviation

This paper explores the predominantly male-dominated aviation sector and highlights the benefits of increasing female representation. The key objectives are to analyze the gender pay gap, assess the current gender imbalance, and explore how addressing these issues could contribute to the sector’s sustainability and operational success. A combined quantitative and qualitative methodology is employed, including scenario-building based on monetary indicators and achievements from other industries where female workforce participation has been enhanced. The results demonstrate that closing the gender pay gap and boosting female participation in air transport operations, in line with supranational recommendations, can lead to significant financial gains and operational improvements. The study concludes that promoting gender equity is not only a social imperative but also a crucial factor for achieving sustainability goals within aviation.

Assessing the impact of socio-demographic factors on municipal water security in planned and unplanned urban centers of Pakistan

ABSTRACT In the current era of climate change, along with population and urbanization growth, Pakistan is facing increasing environmental challenges. These challenges intensified the pressure on the existing municipal water supply (MWS), which necessitated a need for a comprehensive assessment of the municipal water dynamics in these three cities. This research aimed sixfold: assessing the current municipal water services, municipal water demand, groundwater table depletion, satisfaction, awareness level, and the monetary indicators of the MWS. A three-stage key performance indicator (KPI) -based questionnaire survey was conducted, both online and through a field survey, self-administered between March 2022 and December 2023 in Islamabad (planned), Rawalpindi, and Mardan (unplanned). Public water supply (PWS) coverage remained 63% in Islamabad and 52% in Rawalpindi, while Mardan heavily relied on (44%) bore wells. Similarly, water scarcity remained alarmingly high in Islamabad (82%) and Rawalpindi (72%), compared to (relatively) low in Mardan (16%) between June and August every year. Over the past three decades, groundwater depths (GWD) in Rawalpindi have increased up to 300 ft, in Islamabad by 200 ft, and in Mardan by 50 ft. The study calls for intensified roles of all stakeholders, including the community, municipalities, policymakers, and urban planners, to ensure sustained municipal water supply.

КОНТРОЛЬ ЧРЕЗВЫЧАЙНОГО ЗАГРЯЗНЕНИЯ ВОЗДУХА ТРАНСПОРТОМ САНКТ-ПЕТЕРБУРГА ПО КРИТЕРИЯМ НАНОСИМОГО УЩЕРБА

In the aspect of the triple planetary crisis, expressed by climate warming, reduction in biological diversity of species and habitat pollution, the problem of emergency control of the dangerous impact of vehicle exhaust gases on the living conditions of citizens in Saint-Petersburg is being studied. Control is carried out according to the criteria of expected «uncompensated costs» using original models and calculation algorithms adapted to the real conditions of the transport being used and the financial and demographic social environment. Calculation estimates of critical, in particular, extreme accumulation in the air of soot particles, oxides of sulfur, nitrogen, carbon and hydrocarbons are provided. Assessments are expressed in physical and monetary indicators, monitored by the negative effects of health problems, deterioration in the quality of agricultural products, «damage» to infrastructure elements, and climate warming.

How is the Capability Approach Applied to Assess Well-being Impacts? A Systematic Review

ABSTRACT A shift in how to measure well-being using more appropriate and coherent indicators has been long called for. Nonetheless, monetary indicators, such as income and GDP, or utilitarian frameworks, remain the most common approaches used. The capability approach (CA) has been advocated as an alternative framework to measure well-being. This paper aims to capture the state-of-the-art of how the CA has been applied to assess or characterise the well-being impacts of project-based development interventions in Global South countries. The ultimate goal is to discuss whether the CA provides more varied and complex indicators of well-being and therefore more comprehensive impact assessments. The results highlight that qualitative and participatory approaches are frequently applied methods to assess individual capabilities, most often related to educational, economic, social and empowerment dimensions. Capabilities linked to environmental and recreational activities, as well as collective capabilities, were significantly overlooked. Quantitative approaches to impact evaluation were less frequently used. This paper provides a first systematic review on the use of the CA to assess well-being impacts. Future applications of the CA could focus on better integration of qualitative and quantitative approaches for robust impact assessments and targeting understudied capabilities.

Business cycle shocks according to the monetary approach The Turkish economy is a model for the period 2005-2021

The research aims to analyze the impact of fluctuations in monetary indicators on real indicators leading to business cycle shocks in Turkey. Based on the research hypothesis that the Turkish economy is affected by real business cycle shocks, positively or negatively, and varies according to the nature of the economy and the type of shock, whether monetary or real, the interrelation and interference between variables during... The cyclical movement within the economy results in reactions between variables that affect economic activity . To achieve the hypothesis of this hypothesis, the path of the direction of monetary indicators and their fluctuations, such as money supply, interest rates, and private bank credit, was traced, and their impact on the direction of flow of real indicators, such as gross domestic product, investment, and the unemployment rate. The study concluded that fluctuations in monetary indicators cause fluctuations in real indicators, creating two business cycles in The Turkish economy. The first is the result of an external shock represented by the American financial derivatives crisis in 2008 after the opening of the Turkish economy to the outside world. The second represents an internal shock due to the decline in the value of the Turkish lira in 2018. It is also noted that the impact of these monetary shocks is unequal in the real variables of output and investment. And employing according to the extent and depth of the shock occurrence, and the extent of the independence of the monetary authority

UKRAINE’S MONETARY POLICY UNDER MARTIAL LAW

The relevance of the research is due to the change in the monetary policy regime of the National Bank of Ukraine (NBU), which consists in the transition from inflation targeting with a floating exchange rate to a fixed exchange rate as the nominal anchor of monetary policy under martial law. Such a plan to change the monetary policy regime was carefully calculated and outlined in the NBU's Monetary Policy Guidelines for the Duration of Martial Law. The timeliness and effectiveness of the NBU's monetary policy decisions enabled it to mitigate the impact of the military shock on the macro-financial stability of the national economy. The purpose of the article is to consider the theoretical and practical aspects of the NBU's monetary policy under martial law. Methodology. The study uses a systematic method of cognition to determine the sequence of application of monetary policy instruments to smooth out monetary shocks of the wartime period; an abstract-logical method to understand the future monetary policy strategy based on the abandonment of the fixed exchange rate regime and a gradual return to inflation targeting; and a statistical method to analyse the dynamics of monetary indicators of the national economy. Results. The paper presents the main principles of the NBU's monetary policy under martial law. The first shock from the war led to changes in the conduct of monetary policy and a shift to unconventional instruments of its regulation. The gradual adaptation of the economy to the new conditions determined the NBU's further steps to ease monetary policy and move to greater exchange rate flexibility. Practical implications. The practical significance of the research results is to assess the conditions for the transition from the key policy rate-based inflation targeting regime as the main monetary policy instrument to the use of foreign exchange interventions as the main operation in the foreign exchange market under martial law. Value / Originality. The originality of the article is due to the need to identify the prerequisites for the transition to a new monetary policy strategy in a wartime economy. Conclusions. The NBU's timely response to the negative phenomena associated with deteriorating inflation expectations, multiple exchange rates and pressure on international reserves helped prevent the development of a currency and financial crisis in Ukraine. Despite the active hostilities, the NBU is trying to find options that will allow it to conduct an effective monetary policy in the face of a full-scale invasion and unprecedented internal and external shocks. Internationally, Ukraine has exceeded expectations and the NBU has shown a high degree of responsibility, professionalism and creativity in the conduct of monetary policy. Increased confidence in the central bank is a valuable resource in times of martial law.

Spatial–Temporal Variations of the Gross Ecosystem Product under the Influence of the Spatial Spillover Effect of Urbanization and Ecological Construction in the Yangtze River Delta Region of China

Rapid development of urbanization and intense human activities had a profound influence on the ecosystem service functions. As an integrated monetary index for the evaluation of final ecosystem services, the gross ecosystem product (GEP) is widely used in the quantification of ecosystem service value (ESV). This study initially assessed and analyzed the spatial distribution of the GEP at the county-level scale using multisource data spanning 2000, 2005, 2010, 2015, and 2020. Then, the spatial transfer characteristics of the GEP were measured. Finally, the study employed spatial panel econometric models and the geographically weighted regression (GWR) model to investigate the spatial effect of urbanization and ecological construction on the GEP. The results indicated that: (1) In 2020, the GEP in the Yangtze River Delta Region was RMB 15.24 trillion, and the GEP per unit area was RMB 42.58 million per square kilometer. It exhibited a cumulative decrease of RMB 298.72 billion from 2000 to 2020. (2) The spatial transfer efficiency of the GEP in urban agglomerations showed a clear decline trend. During the period of 2000–2020, over 96% of county-level units exhibited a decline with RMB 90,076,103.17/km2, indicating a consistent downward trend from the central regions towards the periphery. (3) Based on the decomposition effects of the spatial Durbin mode, urbanization and the ecological construction indicator showed spatial spillover effects on the GEP, but their impact mechanisms varied substantially. Among them, the urbanization rate (UR), population density (PD), and the proportion of impervious land (ILP) had the largest negative effect on the GEP, and a 1% rise in ILP locally resulted in a 0.044% decline in the local GEP and a 0.078% rise in the GEP of neighboring units. And the area of ecological land had a positive effect on the GEP of both local and neighboring areas. Those conclusions can offer evidence in favor of encouraging ecologically responsible building practices and sustainable growth in urban agglomerations.

Impact of COVID-19 pandemic on some fiscal and monetary indicators in the kingdom of Saudi Arabia

PurposeThe purpose of this study is to investigate the impact of COVID-19 on some fiscal and monetary indicators in the Kingdom of Saudi Arabia.Design/methodology/approachThe research relied on data, studies and reports issued by the International Monetary Fund, Arab Monetary Fund, Saudi Central Bank, Investing Website and the World in Data Website.FindingsMany sectors have been affected by the COVID-19 pandemic, which outbreak has been associated with a high cost, in addition to increased inflation and prices, a result that was confirmed by the increase in consumer price indices for different sectors. The general consumer price index for the second period rose above that of the first period, while an upward shift occurred in the curve depicting the Saudi Riyal exchange rate against the United States (US) dollar during the second period above that of the first period, only in slope, due to outbreak of the pandemic. Impact of the number of daily new cases infected with COVID-19 was the highest on the opening and closing price indices of the food retail sector, the pharmaceutical sector and the transportation sector; while impact of the number of daily deaths by COVID-19 was the highest on the opening and closing price indices of the banking sector, the general index and the investment and finance sector. In addition, impact of the daily reproduction rate of COVID-19 was the highest on the opening price indices of the energy sector, the food production sector and the transportation sector.Research limitations/implicationsThe research aims to demonstrate measures taken by the Kingdom of Saudi Arabia through fiscal and monetary policies.Practical implicationsThe COVID-19 pandemic is still an ongoing global pandemic. The virus was first identified in Wuhan City in China at the beginning of December 2019. At the end of January 2020, the World Health Organization (WHO) declared that the outbreak of the virus represented a public health emergency, and later, on March 11, 2020, WHO declared the situation had transformed into a pandemic. Until January 17, 2022, the pandemic had caused more than 328 million cases and 545 million deaths, while 188 million of the cases had recovered. It is worth mentioning that the pandemic caused several social and economic disruptions, including a global economic recession; shortages in goods, supplies and equipment due to consumers' panic and thus tendency to buy; besides causing other disruptions like the negative impacts on health, as well as political, cultural, religious and sport events that influenced economic policies, including both the fiscal and monetary policies of world countries (Wikipedia, 2022).Social implicationsSocial implications steps that taken to reduce the impacts of the COVID-19 pandemic, in addition to measuring the impacts of the COVID-19 pandemic (as the main event next to which other events fade up) on some of the fiscal and monetary indicators for the Kingdom of Saudi Arabia.Originality/valueThe research aims to demonstrate measures taken by the Kingdom of Saudi Arabia through fiscal and monetary policies to mitigate the impacts of the COVID-19 pandemic, in addition to measuring the impacts of the COVID-19 pandemic (as the main event next to which other events fade up) on some of the fiscal and monetary indicators for the Kingdom of Saudi Arabia.

Metaphysical Status of Money and Sustainable Organizations and Ecosystems

The current economic and societal production system gives money a magnified importance, overlooking other essential flows necessary for human survival and existence. It focuses on monetary indicators like profits, dividends, and GDPs to evaluate organizational production, while often disregarding outputs that harm the biosphere. Money is treated as the constitutive being (ousia) and attributed undemonstrated explanatory properties. Intangible flow theory helps eliminate this metaphysical status of money by recognizing that monetary flows are just one of many necessary flows for human survival and existence. Organizations deliver product-flows that require input-flows from and send output-flows back to the encompassing biosphere, whether they explicitly engage in environmentally friendly activities or not. Therefore, every organization is an ecological entity because it has a relationship with the biosphere, which participates in the manner through which humans integrate into their surrounding environment and relate to other living beings. Eliminating the metaphysical status of money integrates every organization in the biosphere, making organizations accountable for environmental harm caused by their activities. This can be achieved by deconstructing the metaphysical status of money in business models.

Investigation of multidimensional poverty in Pakistan at the national, regional, and provincial level

AbstractTo achieve the sustainable development goal of “no poverty”, many attempts have been made to measure poverty so that policy intervention can target the right people with the correct intensity. Since the traditional method of a unidimensional approach using monetary indicators, such as income and consumption, is now considered insufficient, a multidimensional approach has been employed using non-monetary indicators. The latter approach encompasses the different poverty aspects affecting an individual’s capabilities and functioning. This study aimed to calculate multidimensional poverty in Pakistan using the Alkire & Foster method and Pakistan Social and Living Standards Measurement (PSLM) published by the Pakistan Bureau of Statistics data for 2018–19. To further complete the research, a binary logistic regression has been run to measure the effects of a deviation in income status on multidimensional poverty to see the impact of monetary income on non-monetary measures. Results show that the national global Multidimensional Poverty Index (MPI) is 0.24, meaning that multidimensionally poor people in Pakistan experience 24% of the total deprivations. The most deprived dimension of the three is education (44.7%), which needs special attention. Furthermore, if a household’s total annual income increases and becomes more significant than the mean income of the sample, the household’s probability of being multidimensionally poor will decrease. This implies that with the increase in average national income, the national poverty will reduce not only in absolute terms but also multidimensionally. This study’s findings have several implications for policymakers, and the results of the MPI should align the allocation of public sector resources calculated to give a geographical and sectoral image of the poverty situation, which will guide policy designs and allocation of budget and resources.

INCREASING ECONOMIC LITERACY ONLINE ROLE OF SERVICES

Economic experts of a number of international financial organizations are conducting research in various directions on various methodological approaches to assessing the level of financial literacy of the population. These studies are focused on evaluating the ability of households, families and individuals (the person himself) to manage their financial resources and their effective decisions by assessing the level of financial literacy of the population. In addition, the influence of the level of financial literacy of the population on the standard of living of the population is also evaluated. In this case, the monetary characteristics of households, families or individuals are formed through monetary indicators.

Monetary indicators in the financial monitoring system in Russia

During the dynamic transformations in the economy, including in the financial sector, there is a need to adapt the existing financial monitoring system in Russia. To implement it, a system of indicators is used, on which the effectiveness of financial monitoring and the achievement of various goals depends. Therefore, the main criterion for financial monitoring is the completeness of the monitored indicators. This article examines the problem of the lack of indicators of monetary factors of economic processes and phenomena in the financial monitoring system in Russia, which creates a sphere of potential and real risks in the domestic economy. From here, the object of research is determined, which are monetary indicators. The subject of the study is specific monetary indicators: the key rate of the Central Bank of the Russian Federation, the ruble exchange rate, the RTS index. The achievement of research goals and objectives is carried out using general scientific methods of comparison, analysis, synthesis and generalization. The purpose of this article is to search for indicators that can clearly reflect the problems in the financial aspect that have developed in Russia. It is also argued that the use of monetary indicators in financial monitoring will make it possible to organize financial monitoring in Russia more effectively, that is, to ensure timely and more complete achievement of various goals and objectives of public administration. To achieve this goal, the essence of financial monitoring in Russia, the indicators used in it, as well as the search and analysis of new monetary indicators with subsequent conclusions about the viability of their use are considered. As a result, it can be understood that monetary indicators explain some of the causes of crisis phenomena, thereby proving the need for their inclusion in the Russian financial monitoring system.

External costs of electricity generation in 27 European countries from 2010-2030: Pathway toward sustainability or business as usual?

Electricity generation in Europe is undergoing a fundamental change. The aim is to increase sustainability by reducing emissions. Each country has a different electricity mix, and there is no established method for measuring environmental impacts of electricity production with a single monetary indicator, in a uniform manner, and with country-specific data. To address this gap, a model that measures the costs of 19 environmental externalities (usually, types of emissions) has been developed. Using country-specific technologies, electricity mixes, and external cost rates, the development of external costs of generating electricity in 27 European countries between 2010 and 2030 is assessed and analyzed. The simulation results show that the external costs vary heavily between 2.1 and 22.4 euro cents per kWh in this period. Despite the initiated transformation of the energy systems in many EU countries, external costs per kWh are decreasing in only eight of them. This fact underlines the need for a drastic change in national energy strategies. Overall, the results show that more far-reaching policy measures are needed in order to significantly reduce the external costs of the energy sector in Europe. The article raises the level of granularity of research on the external costs of electricity in Europe by combining extensive country-specific emission data and country-specific external cost rates.

Impact of Monetary Policy on Inflation Targeting in Nigeria (1986 – 2022)

The obstacles encountered in establishing inflation benchmarks alongside other monetary indicators have not been conducive to maintaining consistent price levels and broad economic stability in Nigeria. Consequently, this research delved into the effects of monetary strategy on inflation benchmarks in Nigeria. The research utilized the Autoregressive Distributed Lag (ARDL) approach to analyze time-bound data. The findings revealed that both the volume of currency in circulation and the monetary policy rate demonstrated a negative yet substantial influence in the immediate term. Conversely, over a prolonged period, these elements exhibited a negative but statistically inconsequential effect on achieving the set inflation benchmarks in Nigeria. In light of these findings, the study suggests that amplifying the circulation of currency in the short term will likely keep the targeted inflation rate largely unaffected. Furthermore, it is advised that the government should fully implement an inflation benchmarking policy. Additionally, it is recommended that the government should regulate the monetary policy rate to prevent a further increase in joblessness. Lastly, the study underscores the importance of fostering effective administration to establish a trustworthy and stable macroeconomic framework.