The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR), the country’s benchmark interest rate, at 26.5 per cent, maintaining a cautious monetary policy stance as it weighs easing domestic inflation against mounting global economic risks.
The decision was announced on Tuesday by CBN Governor Olayemi Cardoso at the end of the 306th Monetary Policy Committee (MPC) meeting held in Abuja from July 20 to 21.
Cardoso said the committee unanimously agreed to leave the benchmark rate unchanged after assessing domestic and international economic conditions.
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According to him, although Nigeria’s headline inflation eased slightly in June 2026, renewed hostilities in the Middle East have heightened global uncertainty, posing risks to energy prices and domestic inflation.
“The committee’s decision to maintain the current policy stance follows a thorough assessment of the balance of risks,” Cardoso said, adding that recent structural reforms have strengthened the resilience of the
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