Central bank holds rate, signals patience on inflation

Policymakers kept the benchmark unchanged and pushed back on talk of early cuts.

Tunde Balogun

Economics Correspondent4 min read

The monetary policy committee left the benchmark interest rate unchanged on Tuesday, as widely expected, and indicated it is in no hurry to loosen policy.

In its statement, the committee described recent disinflation as encouraging but not yet durable, pointing to persistent services prices.

Bond yields were little changed after the decision, suggesting the outcome was fully priced in.

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