There may be no hope in sight for monetary policy easing even as the inflation rate remains at a single digit.

This is the position of two economists from the Financial Derivatives Company limited, Raphael Yemitan and Damilola Akinbami, who were guests on Channels Television, Business Morning.

Speaking on the inflationary trend in Nigeria and its implications, the two economists say Nigerians should not expect monetary policy rate cut any time soon, particularly because of the fiscal spending as we enter the election year.

According to them, the oil price trend in the international market and expected capital flight are also factors that will militate against monetary easing irrespective of the single digit inflation rate recorded in 2013.

Meanwhile, the National Bureau of Statistics on Sunday released the inflation rate for November and reported a rise in the rate to 7.9% year on year.

This is an increase of 0.1% from 7.8% recorded in October, beating the forecast made by Financial Derivatives Company limited.

The company had forecast that the November inflation rate would drop to 7.66%.