By Ajibola Olaide, JKNewsMedia Reporter
BENCHMARK INTEREST rate will remain at 26.5 per cent after the Central Bank of Nigeria (CBN) retained the Monetary Policy Rate (MPR) at the end of the 306th Monetary Policy Committee meeting in Abuja.
JKNewsMedia.com reports that the decision was announced on Tuesday after the committee concluded its two-day meeting held in Abuja on July 20 and 21, 2026, which was attended by all 11 members.
The committee reviewed recent economic trends within Nigeria and abroad before resolving to leave the MPR unchanged at 26.5 per cent.
By retaining the benchmark rate, the CBN signalled its determination to continue its tight monetary policy stance aimed at containing inflationary pressures, supporting exchange rate stability and strengthening confidence in the Nigerian economy.
Before reaching the decision, committee members reviewed domestic and global economic developments before resolving to retain the MPR at 26.5 per cent.
The apex bank said the decision to keep the rate unchanged is aimed at sustaining the moderation in inflation recorded in recent months, stabilising the foreign exchange market and consolidating macroeconomic gains recorded so far.
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