Inflation: ‘Zero relief for Nigerians’ – Economists react as CBN holds interest rate at 26.50%

Reactions are presently trailing the Central Bank of Nigeria’s determination to clasp the involvement complaint astatine 26.50 percent. 

Economists and fiscal analysts task that with the development, Nigerians and businesses volition proceed to grapple with the symptom of precocious prices of goods and elevated outgo of borrowing. 

DAILY POST reports that the politician of the apex bank, Olayemi Cardoso, disclosed the Monetary Policy Committee’s determination to clasp rates aft its 305th MPC gathering connected Wednesday.

Accordingly, CBN besides retained the Standing Facilities Corridor astir the MPR astatine +50/-450 ground points and held the Cash Reserve Requirement (CRR) for deposit wealth banks astatine 45.00 percent, merchant banks astatine 16.00 percent, and non-TSA nationalist assemblage deposits astatine 75.00 percent.

Cardoso said the determination was anchored connected the broad appraisal of the hazard outlook. The determination comes arsenic the state experienced 2 consecutive months of ostentation spikes. Recall that successful March and April 2026, Nigeria’s header ostentation roseate to 15.38 percent and 15.69 percent. 

However, Cardoso assured the MPC remained assured that the existent macroeconomic situation is sufficiently robust to enactment a instrumentality to disinflation.

“The pass-through of planetary commodity and vigor terms shocks to home ostentation has been importantly mitigated and would person been much pronounced successful the absence...