Reported 9 months ago
Turkey's central bank decided to keep interest rates at 50%, signaling a hawkish approach as inflation peaked above 75%. The Monetary Policy Committee led by Governor Fatih Karahan emphasized the need to maintain a tight policy until a significant and sustained decline in monthly inflation. The central bank remains vigilant about liquidity conditions, indicating a pause in rate cuts for the year to cool off economic growth and curb inflation, which is expected to reach around 72% in June and 38% by year-end. Foreign investors are closely watching Turkey's economic trajectory and policy decisions amidst concerns about tighter measures affecting businesses and households.
Source: YAHOO