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The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 26.5% following the conclusion of its 305th meeting.

The decision was announced by CBN Governor Olayemi Cardoso after the MPC meeting held in Abuja, where 11 committee members were in attendance.

The committee also retained all other key monetary policy parameters, reflecting a cautious approach as policymakers continue to monitor inflationary pressures and broader macroeconomic conditions.

The CBN said the decision to hold rates steady was influenced by persistent inflationary pressures and the need to sustain macroeconomic stability.

The committee noted the recent rise in inflation figures, particularly the back-to-back increases recorded in March and April 2026.

Nigeria’s inflation rate has continued to shape monetary policy decisions in recent months despite signs of moderation earlier in the year.

The CBN has continued to balance inflation control with efforts to support exchange-rate stability and broader economic recovery.

Analysts had widely projected that the apex bank would maintain its benchmark interest rate at the current level amid persistent domestic and global economic uncertainties.

The decision to hold rates steady suggests that the MPC remains focused on containing inflation while monitoring the broader impact of high borrowing costs on businesses and economic growth.

The Monetary Policy Rate serves as the benchmark interest rate used by the CBN to influence lending rates, liquidity conditions, inflation, and overall macroeconomic stability.