The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 26.5 percent, maintaining its current monetary stance despite a slight decline in the country’s inflation rate.
CBN Governor, Olayemi Cardoso announced the decision on Tuesday after the 306th Monetary Policy Committee (MPC) meeting held in Abuja.
Key Highlights:
“The committee decided to retain the Monetary Policy Rate at 26.5 per cent,” Cardoso said while briefing journalists at the end of the meeting.
The decision marks the second consecutive time the MPC has left the benchmark interest rate unchanged, following a 50-basis-point reduction in February 2026.
The rate retention comes even as Nigeria’s headline inflation recorded a marginal decline.
According to the latest Consumer Price Index report released by the National Bureau of Statistics, inflation eased to 15.91 per cent in June 2026, down slightly from 15.93 per cent in May.
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The June figure represents the first drop in inflation after three consecutive monthly increases, with the rate rising from 15.06 per cent in February to 15.38 per cent in March, 15.69 per cent in April, and 15.93 per cent in May.
The MPC’s decision suggests the apex bank remains focused on consolidating recent gains in price stability while closely monitoring economic conditions.
Further details from the committee are expected.
