- The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has held the Monetary Policy Rate (MPR) steady at 26.5 per cent for the second consecutive session.
- CBN Governor Olayemi Cardoso announced the decision on Tuesday at the conclusion of the 306th MPC meeting held at the central bank’s headquarters in Abuja.
- The decision to keep rates unchanged comes amidst a slight easing in headline inflation, which edged down marginally to 15.91 per cent in June 2026 from 15.93 per cent in May.
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has resolved to retain the benchmark interest rate at 26.5 per cent, choosing to maintain its current monetary stance to stabilize macroeconomic indices.
Eko Hot Blog reports that the CBN Governor, Olayemi Cardoso, made the official disclosure on Tuesday, July 21, 2026, while addressing newsmen at the end of the committee’s 306th statutory meeting in Abuja.
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Cardoso confirmed that after a comprehensive review of domestic economic conditions and global financial developments, the committee unanimously agreed to hold all policy parameters constant.
This latest resolution marks the second consecutive meeting where the committee has opted to hold rates following a previous 50-basis-point reduction executed in February 2026.
The decision coincides with recent data published by the National Bureau of Statistics (NBS) in its Consumer Price Index report, which showed Nigeria’s headline inflation easing marginally to 15.91 per cent in June 2026 from 15.93 per cent recorded in May.
Financial analysts note that while the slight decline in inflation represents the first drop after three months of upward pressure, the committee resolved to maintain a cautious stance to ensure price stability, anchor inflation expectations, and support economic resilience.
