The Central Bank of Nigeria has opted to keep its Monetary Policy Rate steady at 26.50 percent. This marks the second time in a row that the bank has held the rate at this level, following decisions made in May and July 2026.
Olayemi Cardoso, the Governor of the Central Bank, announced the outcome during a press conference in Abuja this Tuesday. The update followed the 306th meeting of the Monetary Policy Committee.
During the session, all 11 committee members examined current economic trends both within Nigeria and internationally. Their collective choice to keep the benchmark lending rate constant aims to support ongoing efforts to lower inflation. Additionally, the bank seeks to promote stability in foreign exchange markets and build upon recent progress in the national economy.
This policy decision follows the June 2026 report showing that national inflation dipped to 15.91 percent. Despite this improvement, the cost of food continues to be a significant concern for households throughout the country.
