The Monetary Policy Committee of the Central Bank of Nigeria has decided to keep the Monetary Policy Rate at 27 per cent, leaving the benchmark interest rate unchanged. The announcement was made after the committee’s 303rd meeting held in Abuja.
CBN Governor Olayemi Cardoso said the decision was reached through a majority vote, noting that members agreed the current economic conditions do not support another rate cut. He explained that holding the rate steady remains the best approach for now.
This latest move follows the 50-basis-point cut made in September 2025, which remains the only reduction since the present leadership of the bank began its tightening measures. It also marks the fourth consecutive time the MPC has chosen to hold the rate.
Cardoso added that the committee carefully reviewed key economic indicators before reaching its decision. According to him, maintaining the current stance will help manage inflation and support stability in the financial system.
The MPR acts as the main benchmark for interest rates across the country and influences the cost of borrowing for businesses, banks, and consumers. The committee’s decision signals a cautious approach as Nigeria continues to balance inflation concerns with the need to support economic growth.