CBN retains rate at 26.5 %, says no FX market intervention

The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate at 26.5% during the 305th Monetary Policy Committee meeting. Governor Olayemi Cardoso justified this decision by assessing economic risks, noting that inflation has risen slightly due to external shocks, but the macroeconomic environment remains robust. Previous reforms have mitigated the impact of global price increases on domestic inflation.