CBN Retains Interest Rate at 26.5% Despite Easing Inflation

• The Central Bank of Nigeria (CBN) has retained the interest rate at 26.5 per cent for the second consecutive meeting.

The Central Bank of Nigeria (CBN) has retained the country’s benchmark interest rate, also known as the Monetary Policy Rate (MPR), at 26.5 per cent.

The decision was announced on Tuesday by CBN Governor, Olayemi Cardoso, after the conclusion of the 306th Monetary Policy Committee (MPC) meeting held in Abuja.

According to Cardoso, the committee unanimously agreed to leave the benchmark interest rate unchanged.

“The Committee decided as follows: retain the Monetary Policy Rate at 26.5 per cent,” he said.

The latest decision marks the second consecutive MPC meeting where the apex bank has maintained the interest rate, following a 50-basis-point reduction in February 2026.

The decision comes despite a slight moderation in Nigeria’s inflation rate.

According to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS), the country’s headline inflation rate declined marginally to 15.91 per cent in June 2026, compared to 15.93 per cent in May.

The June figure represents the first drop in inflation after three consecutive monthly increases, with inflation rising from 15.06 per cent in February to 15.38 per cent in March, 15.69 per cent in April, and 15.93 per cent in May.

The MPC’s decision signals the CBN’s continued cautious approach to monetary policy as it seeks to consolidate recent gains in inflation while maintaining macroeconomic stability.

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