The central bank is holding its ground despite market expectations that suggested otherwise. Wall Street had penciled in aggressive interest-rate cuts—the kind we haven't seen in a decade—but that's not materializing. Why? The economy faces structural challenges deeper than just cyclical weakness. Demand remains sluggish across multiple sectors, and underlying imbalances persist. Rather than act decisively with rate cuts, the central bank is taking a wait-and-see approach. This divergence between market predictions and actual policy decisions signals that policymakers see the situation as more complex than a simple demand problem. For traders watching macro conditions, this matters: it shapes inflation expectations, capital flows, and ultimately the broader financial environment we're operating in.