CBN Cuts Benchmark Interest Rate to 26.5% in MPC Meeting
During its 304th meeting held in Abuja, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria, led by Governor Olayemi Cardoso, decided to cut the monetary policy rate by 50 basis points from 27% to 26.5%. This marks the second rate cut under the current leadership, following a similar reduction in September 2025.
The MPC aims to support economic growth while ensuring price stability, as indicated by the ongoing disinflation trajectory and a decline in headline inflation to 15.10% in January 2026. The committee retained the cash reserve requirement at 45% for commercial banks.
Private sector leaders, including Adewal Oyerind, welcomed the rate cut as a cautious step towards supporting business margins, although they noted that the impact on lending rates may be gradual. The MPC's next meeting is scheduled for May 19-20, 2026, as they continue to navigate the balance between growth support and inflation control.
Plus234Feed summary based on reporting from Punch Newspapers. Read the original report below.
Read full article
Continue on Punch Newspapers
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
CBN Cuts Monetary Policy Rate by 50 Basis Points
CBN Lowers Monetary Policy Rate to 26.5% in Abuja
CBN Rate Cut Welcomed, But High Lending Rates Persist
Nigeria Anticipates Economic Boost with MPC Meeting Amid Inflation Drop
Nigerian Central Bank Divided on Monetary Policy Decision, Holds Rate Steady at 27%
Nigeria's Central Bank Cuts Interest Rate to 26.5%
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
