Central Bank Cuts Policy Rate 25bp to 12.25%, Split Vote Signals Divergence

The central bank lowered its benchmark interest rate by 25 basis points to 12.25%, with a 4-2-1 vote split (four for cut, two for hold, one for a 50bp cut). The decision signals a gradual easing bias, but the dissenting votes reveal internal disagreement over the pace of monetary loosening. This matters for local currency and bond markets, as the path of future cuts remains uncertain.