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•Says banks no longer need forbearance
•External reserves sustains upward trend, hit $52.5bn
By Emma Ujah, Abuja Bureau Chief
The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 26.5 per cent.
CBN Governor, Mr. Olayemi Cardoso, announced the decision yesterday after the 306th Monetary Policy Committee (MPC) meeting in Abuja.
He said the committee also retained the standing facilities corridor around the MPR at +50/-450 basis points, the Cash Reserve Ratio (CRR) for Deposit Money Banks at 45 per cent, Merchant Banks at 16 per cent, and non-TSA public sector deposits at 75 per cent.
Explaining the decision, Cardoso said: “The committee’s decision to maintain the current policy stance followed a thorough assessment of the balance of risks.
Although headline inflation moderated marginally in June 2026, global uncertainties have heightened, mainly due to the renewed hostilities in the Middle East.”
He added: “In view of
