Just in: CBN keeps monetary policy rate unchanged at 26.5%

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has retained the benchmark interest rate at 26.5 per cent following the conclusion of its 305th meeting in Abuja.

CBN Governor, Olayemi Cardoso, announced the decision on Wednesday after the committee meeting attended by 11 members.

Cardoso said, “The Committee’s decision is as follows: retain the monetary policy rate at 26.5 per cent.”

The decision means the apex bank maintained the Monetary Policy Rate at its current level despite recent inflationary pressure in the economy.

The move follows the 50-basis-point reduction announced by the MPC in February 2026 and an earlier decision to hold rates during the November 2025 meeting.

By retaining the benchmark rate and other key monetary policy parameters, the central bank signalled a cautious approach toward inflation management and broader macroeconomic stability.

Nigeria’s inflation rate recorded a slight increase in April 2026 according to the latest Consumer Price Index report released by the National Bureau of Statistics.

The report showed that headline inflation rose to 15.69 per cent in April from 15.38 per cent recorded in March 2026.

The increase represented a 0.31 percentage point rise within one month.

The MPC’s latest decision comes as policymakers continue efforts to balance inflation control with economic growth and exchange rate stability.