Amid Renewed Hostilities in M’East, Inflation Concerns, CBN Retains MPR at 26.5%, Other Monetary Parameters at Current Levels

Cardoso: Nigerian economy largely resilient to external shocks, reflects gains from prior reforms by fiscal, monetary authorities

Says unforeseen global headwinds delay CBN’s single-digit inflation target by January 2027, banks to sustain efforts to reign in prices•Declares painful reforms yielding positive outcomes, paving way for better days ahead, insists current exchange rate supports competitiveness

External reserves hits $52.52bn as of July 17, 2026, from $50.47bn in May

James Emejo, Deborah Adekoya in Abuja and Nume Ekeghe in Lagos

The Central Bank of Nigeria (CBN), yesterday, decided to leave the Monetary Policy Rate (MPR), the benchmark interest rate, unchanged at 26.5 per cent, as well as the standing facilities corridor around MPR at +50/-450 basis points.CBN also left the Cash Reserve Requirement (CRR) for Deposit Money Banks (DMBs) unchanged at 45 per cent, merchant banks at 16 per cent, and 75 per cent for non-TSA public sector deposits.