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Summary
The central bank is responsible for the conduct of monetary policy to pursue some macroeconomic objectives. Central Banks in the world such as the Central Bank of Nigeria (CBN) often employ monetary policy instruments like monetary policy rate, open market operations, cash reserve ratio and money supply regulation. The Central Bank also determines the targets these monetary policy variables are to achieve within the economy. Although the objectives of monetary policy are to achieve specific macroeconomic targets or goals, these policy instruments may hurt or support the objectives of 72 profit maximization by deposit money banks, but as this study has shown, the impact of monetary policy on banks performance often depend on the specific monetary variable employed by the monetary authority and their overall impact on the economy. Our conclusion is that monetary policy has worked in the direction that the monetary authority intended them to go. Monetary policy instrument can either boost banks performance or hurt their performance
