The Turkish central bank maintains interest rates and is betting that inflation has reached its peak


Turkey’s central bank kept its key interest rate on Thursday unchanged, and pledged to maintain the “current” monetary position until there is a significant drop in inflation after it likely peaked in April.The Monetary Policy Committee kept the key interest rate at 19%, which is what all analysts polled by Bloomberg News expected.

“Given the high levels of inflation and inflation expectations, the current monetary policy stance will be maintained,” El Lajjah said in a statement.

Last April, the inflation rate in Turkey increased for the seventh month, and the annual inflation rate rose to 17.1%, compared to 16.2% in the previous month.


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