CBN Governor Olayemi Cardoso announced the outcome on Tuesday after the committee concluded its 303rd meeting in Abuja. He noted that the majority of MPC members agreed that sustaining the current policy stance was the most prudent option at this time.
“The Committee decided by a majority vote to maintain the monetary policy stance,” Cardoso said, adding that the economic environment was not yet stable enough to support a rate cut.
Tuesday’s decision follows the modest 50-basis-point reduction implemented in September 2025 — the only rate cut recorded under the current tightening cycle. With this announcement, the MPC has now held the Monetary Policy Rate (MPR) steady for the fourth consecutive time this year.
In 2024, the MPC undertook six rate hikes to curb soaring inflation and stabilise the naira, marking one of the most aggressive tightening phases in recent history.
Although recent data shows inflation is gradually moderating, policymakers noted that a cautious approach remains necessary as they assess the sustainability of early economic improvements.
