CBRT cuts main rate to 36%
Governor blames stalling disinflation on supply-side pressures
The Central Bank of the Republic of Turkey (CBRT) cut its policy rate by a percentage point today (October 23), taking it to 36%.
In a statement, the bank said recent data points to a “deceleration in the underlying trend of inflation”. Economic activity and the limited pass-through of supply shocks to prices indicate that domestic demand “remains weak”, the CBRT said. However, it warned that high energy prices due to ongoing “geopolitical tensions” still pose an upside risk to inflation.
Turkey’s
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