CBN Keeps Interest Rate at 26.5% Despite Slight Rise in Inflation
Last update: May 20, 2026
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Nigeria’s central bank has decided to hold steady on interest rates once again, even as inflation edges upward.
So here’s the latest from Abuja, and it’s straight from the Monetary Policy Committee of the Central Bank of Nigeria (CBN), as reported by cbinews.tv.
The CBN has opted to keep its benchmark interest rate unchanged at 26.5%. The announcement was made on Wednesday by Governor Olayemi Cardoso after the committee’s 305th meeting.
In his words, Cardoso put it simply: “The Committee’s decision is as follows: retain the monetary policy rate at 26.5 per cent.”
This decision comes after a bit of movement earlier in the year — there was a 50-basis-point cut back in February 2026, and rates were also held steady during the November 2025 meeting.
Interestingly, this latest “hold” happens against the backdrop of rising inflation. The National Bureau of Statistics reported that headline inflation ticked up slightly to 15.69% in April 2026, compared to 15.38% in March — a small but notable increase.
So, despite inflation creeping up, the CBN is clearly playing it cautious and sticking to its current monetary stance for now.
Source: cbinews.tv
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