Turkey's central bank announced on the 22nd that it would not raise the policy interest rate for eight consecutive times and would leave it unchanged.
The focus will be on the impact on chronic inflation.
Turkey's central bank held a monetary policy meeting on the 22nd and announced that it would keep the policy interest rate unchanged at 45%.
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%, in order to rein in infrastructure demand, which had hit record levels.
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, and the statement said, ``The current policy interest rate will remain unchanged until the trend of inflation has declined significantly and sustainably.'' "We will maintain the standard."
The shift from raising interest rates to leaving them unchanged will focus on the impact on chronic inflation.
This monetary policy meeting was also held for the first time under Mr. Callahan, who was just appointed as central bank governor on the 3rd of this month.
Mr. Callahan, who previously served as chief economist at American IT giant Amazon, was promoted from vice president after his predecessor, Mr. Elkann, suddenly resigned due to a scandal surrounding his family, and his skills have been attracting attention. Masu.