Turkish central bank announces no interest rate hike, focus on inflation impact. The shift from raising interest rates to leaving them unchanged will focus on the impact on chronic inflation.
The central bank has raised the policy interest rate eight times in a row since June last year, from 8.5% at the time, to 45%. The decision to keep the rate unchanged appears to be based on the recognition that the monetary tightening necessary to curb inflation has been achieved, the statement said. "We will maintain the standard," it added.