The Central Bank of Turkey kept its key interest rate at 37% on July 23, marking the fourth consecutive meeting with no change, according to reports from Finam, as reported by infohub.kz.
The regulator also left the overnight lending rate at 40% and the overnight borrowing rate at 35.5%. The central bank emphasized that tight monetary policy will continue until price stability is achieved, with an inflation target of 5%.
Turkey's statistical authority reported that annual inflation slowed to 32.11% in June. Markets expect the regulator to remain cautious and avoid easing policy prematurely.