Rates round-up: Turkey pauses rate cuts
Egypt hikes main rate 300bp after IMF deal; Indonesia decelerates tightening; and more
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
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