Turkey holds key policy rate despite fall in inflation
Central bank says services and food inflation are sustaining broader price pressures
Turkey’s central bank today (July 23) held its key policy rate at 50% for the fourth consecutive time, even though inflation recently slipped for the first time in eight months.
Although inflation fell from 3.37% in May to 1.64% last month, the Central Bank of the Republic of Turkey (CBRT) said it expected the figure to rise slightly in July. It said this would be driven by factors beyond its control, including taxes and the prices of unprocessed food.
The CBRT said persistent price rises in the
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