Realities and complications facing monetary policy  In evaluating the effectiveness of the monetary stance on inflation there is need to recognize some economic realities and complications which eventually help in developing an appropriate policy response.
growth and financial development Nexus: MOHSIN S. KHAN AND AXEL SCHIMMELPFENNIG (2005) 2 conclude an inverse relationship between inflation and real per capita  Inflation,  GDP: when inflation was 8 percent on average during 1978-1991, per capita growth averaged 3 percent but when inflation rose to 11% during 1992 and 1997 real per capita growth averaged only 1 percent and it further recovered as inflation fell to 5 percent.