The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 26.5 per cent, keeping its benchmark interest rate unchanged after the 305th meeting of the Monetary Policy Committee (MPC).
The decision indicates the apex bank’s continued cautious approach to managing inflation and supporting economic stability amid prevailing economic challenges.
The announcement was made on Tuesday in Abuja after the MPC meeting, which was chaired by CBN Governor, Olayemi Cardoso. The committee said it reviewed key economic indicators before deciding to maintain the current rate.
According to the CBN, the decision was taken in view of prevailing economic conditions and the need to sustain stability in the financial system.
“The Committee agreed to retain the Monetary Policy Rate at 26.5 percent, considering the prevailing economic conditions and the necessity of sustaining stability in the financial system,” the apex bank said.
The committee also considered developments around inflation, exchange rate pressures and other factors affecting the economy before arriving at its decision.
By maintaining the rate, the CBN is expected to continue monitoring the impact of previous monetary policy measures while assessing whether further adjustments will be required to address emerging economic concerns.
Analysts said the decision reflects policy continuity, as the apex bank seeks to balance the fight against inflation with efforts to encourage investment and economic growth.