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Central Bank Holds Rates, Cites 11-Month Disinflation Amid Geopolitical Risks

7/17/2026

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Summary

Story summary

Governor Olayemi Cardoso said the Central Bank will not rush to cut rates.
He noted 11 months of continuous disinflation, showing the tightening campaign worked.
Cardoso warned that geopolitical shocks, including the Iran conflict, have disrupted inflation trends.
He said the Monetary Policy Committee will stay guided strictly by data, not market sentiment, as it meets on July 20-21.

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Story summary

Governor Olayemi Cardoso said the Central Bank will not rush to cut rates.
He noted 11 months of continuous disinflation, showing the tightening campaign worked.
Cardoso warned that geopolitical shocks, including the Iran conflict, have disrupted inflation trends.
He said the Monetary Policy Committee will stay guided strictly by data, not market sentiment, as it meets on July 20-21.