Turkey holds key interest rate again
Move comes as inflation, though falling, remains above 50%
Turkey’s central bank today (September 19) held its key interest rate at 50% for the sixth consecutive time, despite inflation having fallen in August.
Annual inflation fell to 51.97% last month from 61.78% in July. The Central Bank of the Republic of Turkey (CBRT) expects it to fall to 38% by the end of this year.
However, the bank added that inflation expectations could jeopardise efforts to bring inflation down.
Inflation peaked at 75.45% in May, and has gradually declined in the months since
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