Analysts predict rates will hold firm at 26.5% as MPC meets today

The Central Bank of Nigeria (CBN) has scheduled the 306th meeting of its Monetary Policy Committee (MPC) for Monday, July 20 and Tuesday, July 21, 2026, amid widespread expectations that policymakers will keep the benchmark Monetary Policy Rate unchanged at 26.5 percent. The two-day meeting comes as the apex bank weighs the need to sustain price and exchange rate stability despite a slight moderation in headline inflation in June.

According to a notice issued by the CBN, the meeting will commence at 10:00 a.m. on Monday and reconvene at 8:00 a.m. on Tuesday. The sessions will be held in the MPC Meeting Room on the 11th Floor of the CBN Head Office in Abuja, after which the Committee is expected to announce its decision on the Monetary Policy Rate and other key monetary policy parameters.

Analysts speak

Razia Khan, managing director and Chief Economist, Africa and Middle East Global Research, Standard Chartered Bank

Headline inflation was 15.9 percent year-on-year in June, broadly unchanged from May, although food inflation accelerated. The escalation of the Middle East conflict and the pricing of domestic fuel in US dollars means we no longer expect policy easing in 2026.