CBN keeps interest rate unchanged
The Monetary Policy Committee of the Central Bank of Nigeria has retained the benchmark interest rate at 26.5 percent.
CBN Governor Olayemi Cardoso announced the decision on Wednesday after the committee’s 305th meeting in Abuja.
He confirmed that members agreed to maintain the Monetary Policy Rate at its current level.
According to Cardoso, the committee reviewed key economic indicators before reaching the decision.
Decision follows previous rate adjustment
The latest move comes after the CBN reduced the benchmark rate by 50 basis points in February 2026.
Before that, the committee had maintained rates during its November 2025 meeting.
Therefore, the latest decision signals continued caution by monetary authorities.
Analysts have closely watched the committee’s stance as inflationary pressure remains a concern.
Inflation rise influenced policy direction
The MPC’s decision followed a recent increase in Nigeria’s inflation rate.
According to the latest Consumer Price Index report from the National Bureau of Statistics, headline inflation rose to 15.69 percent in April 2026.
This marked an increase from 15.38 percent recorded in March 2026.
As a result, inflation climbed by 0.31 percentage points within one month.
The rise likely influenced the committee’s decision to maintain a tight monetary stance.
Focus remains on economic stability
By holding rates steady, the CBN aims to manage inflation and protect macroeconomic stability.
The move also reflects the bank’s cautious approach to balancing growth and price control.
Meanwhile, investors and market watchers will continue to monitor future monetary policy decisions.
More details are expected from the CBN following the MPC briefing.
