Turkey holds interest rates

Central bank leaves door open for tightening monetary policy

Photo: CBRT

Turkey’s central bank held its policy rate flat at 50% today (May 23), despite warning of ongoing inflationary pressures.

Sticky services inflation, geopolitical factors and food prices “keep inflationary pressures alive”, the Central Bank of the Republic of Turkey (CBRT) said in a statement.

It added that policy will be tightened “in case a significant and persistent deterioration in inflation is foreseen”.

The current rate of 50% will be maintained “until a significant and sustained decline in

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