CBN retains interest rate at 27% as MPC extends policy pause
The Monetary Policy Committee of the Central Bank of Nigeria has retained the benchmark interest rate at 27 percent, extending its pause on monetary tightening.
Olayemi Cardoso, governor of the apex bank, announced the decision on Tuesday after the committee’s 303rd meeting in Abuja.
Cardoso said the MPC voted “by a majority” to keep the policy stance unchanged, noting that members were not fully convinced that prevailing economic conditions supported another cut.
The hold comes after a 50-basis-point reduction in September 2025 — the first and only rate cut under the current leadership’s tightening cycle. It also marks the fourth consecutive pause this year.
The committee had raised the policy rate six times in 2024 as inflation climbed and exchange-rate pressures intensified.
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