The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 26.50 per cent, marking the second consecutive decision to leave the benchmark interest rate unchanged following the May and July 2026 Monetary Policy Committee (MPC) meetings. The move reflects the apex bank’s continued efforts to sustain macroeconomic stability while monitoring inflationary trends and developments in the foreign exchange market.
CBN Governor Olayemi Cardoso announced the decision on Tuesday during a media briefing after the 306th MPC meeting in Abuja. He disclosed that all 11 members of the committee participated in the meeting and unanimously agreed to maintain the current policy rate after reviewing recent domestic and global economic conditions. According to him, keeping the MPR unchanged is intended to consolidate the progress recorded in curbing inflation, preserving exchange rate stability and strengthening confidence in the Nigerian economy.
The decision comes as Nigeria’s headline inflation slowed to 15.91 per cent in June 2026, indicating continued moderation in price growth despite persistent increases in food prices across several parts of the country. By maintaining its tight monetary policy stance, the CBN signalled its commitment to ensuring price stability and supporting recent economic gains while carefully assessing future inflation and broader economic developments.
