CBN retains rate at 26.5%, cites Middle East tensions
The committee noted the resurgence of hostilities in the Middle East, particularly their likely impact on global energy prices and the potential pass-through to domestic inflation.
Olayemi Cardoso, announced the decision yesterday after the 306th Monetary Policy Committee (MPC) meeting in Abuja.
Explaining the decision, Cardoso said: “The committee’s decision to maintain the current policy stance followed a thorough assessment of the balance of risks.
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