Turkey keeps rates on hold

The Central Bank of Turkey has left rates unchanged for the first time in seven months.

The central bank's Monetary Policy Committee opted to keep its benchmark overnight borrowing rate at 15.25% on Wednesday 19 March on fears that the global financial turmoil could halt the disinflation process. In its previous six meetings, the committee has cut rates by 225 basis points.

"The committee assesses that rising global uncertainty and the adverse developments in food and energy prices may lead t