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ABSTRACT
Additionally, the Nigerian stock market's performance and the inflation rate (INFLR) have a marginally favourable association. The study recommends, among other things, that the monetary authority adopt the use of changes in money growth as a monetary policy instrument in order to target short-term or temporary price stability. This will allow the monetary authority to continue to be effective, independent, and creative in addressing the changing challenges within the nation's monetary space. The performance of the Nigerian Exchange Limited stock market and monetary policy are empirically analysed in this study for the period of 1985 to 2021. The major objective of the study is to assess the impact of monetary policy on the performance of the Nigerian stock market. The results of the data analysis revealed significant positive relationships between the performance of the Nigerian stock market and the all-share index (ASI) and exchange rate (EXCHR); significant inverse relationships between the performance of the stock market and the money supply (MS); and insignificant relationships between the performance of the stock market and the interest rate (INTR) and gross domestic product (GDP).
