Inflation Eases, Yet CBN Keeps Interest Rate Unchanged
The Central Bank of Nigeria (CBN) has retained the country’s Monetary Policy Rate (MPR) at 26.50 per cent, maintaining its benchmark interest rate for the second consecutive Monetary Policy Committee (MPC) meeting despite a recent decline in inflation.
CBN Governor Olayemi Cardoso announced the decision on Tuesday while briefing journalists after the 306th MPC meeting in Abuja.
According to Cardoso, all 11 members of the committee attended the meeting, where they reviewed recent domestic and global economic developments before unanimously deciding to leave the benchmark lending rate unchanged.
The decision underscores the apex bank’s resolve to sustain its tight monetary policy aimed at moderating inflation, stabilising the foreign exchange market and consolidating recent macroeconomic gains.
The MPC had also retained the MPR at 26.50 per cent during its May 2026 meeting.
Tuesday’s decision comes after Nigeria’s headline inflation eased to 15.91 per cent in June 2026, although food prices remain elevated across many parts of the country.
By keeping the interest rate unchanged, the CBN signalled that it would rather consolidate recent economic improvements than risk reversing the gains through an early policy shift.
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