CBN Maintains Interest Rate at 26.5% in Latest Meeting

The Central Bank of Nigeria (CBN) has decided to maintain the Monetary Policy Rate (MPR) at 26.5% during the Monetary Policy Committee (MPC) meeting, which took place on Tuesday in Abuja. This decision was announced by CBN Governor Olayemi Cardoso following the 306th MPC meeting.

The 11-member committee unanimously agreed to keep the policy rate unchanged, reflecting the apex bank's commitment to a tight monetary policy stance aimed at sustaining the decline in inflation, preserving exchange rate stability, and strengthening recent macroeconomic gains. The latest decision comes as Nigeria's headline inflation eased to 15.91% in June 2026, although food inflation remains elevated, continuing to pressure household incomes across the country.

Analysts are expected to closely monitor the CBN's next policy moves as the bank balances the need to curb inflation while supporting economic growth.