MPC · 1 min read · July 20-21, 2026

306th MPC Meeting: MPR Retained at 26.5%

305th MPC Meeting | July 20-21,2026

MPC RETAINED AT 26.50%

MPR (Monetary Policy Rate)

Retained

26.50%

CRR of deposit money banks was retained at: 45%CRR of Merchant Banks was retained at: 16%CRR — Non-TSA Public Sector Deposits: 75%

Liquidity Ratio

Retained

30.00%

Upper+50%
Lower+450
Standing Lending Facility27%
Standing Deposit Facility22%

Asymmetric Corridor

Retained

+50/+250 around MPR

Official Decisions

  • The Central Bank of Nigeria held the Monetary Policy Rate (MPR) steady at 26.50%, reflecting a cautious approach in response to renewed geopolitical tensions despite continued resilience in external reserves and the exchange rate.

MPC Update

  • At the end of the 306th MPC meeting held on July 20th and 21st, the following was announced:
  • Monetary policy rate (MPR) retained at 26.50%
  • The asymmetric corridor was retained at +50/+250 around the MPR
  • CRR of deposit money banks was retained at 45%
  • CRR of Merchant Banks was retained at 16%
  • CRR on non-TSA public sector deposits was retained at 75%
  • Liquidity ratio was held constant at 30.00%
Download PDF: The 306th MPC.pdf

Related insights

MPC

305th MPC: Monetary Policy Rate Retained at 26.5%

May 2026

26.5%MPR

Retained

The CBN's 305th MPC meeting held on May 19–20, 2026 concluded with all policy parameters retained unchanged. The MPR stays at 26.5%, anchored by resilient foreign reserves, exchange rate stability, and expectations of continued economic growth.

Read More →
Back to Insights