Rates round-up: Turkey pauses rate cuts

Egypt hikes main rate 300bp after IMF deal; Indonesia decelerates tightening; and more

Central Bank of the Republic of Turkey
Central Bank of the Republic of Turkey
Photo: Vikiçizer/Wikimedia Commons

Turkey: The Central Bank of the Republic of Turkey held its main rate at 9% at its final monetary policy meeting of 2022. The move follows four consecutive months of rate cuts in the face of high inflation, totalling 500 basis points.

Turkey’s official statistics agency recorded 84.4% year-on-year inflation in November, a nearly fourfold increase in the last year. The central bank’s inflation target is 5%.

In a statement on December 22, the monetary policy committee mainly blamed external

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account