Turkish Central Bank stops raising key rate

The Central Bank of Türkiye did not want to change the key rate and left it at 45%. This decision was made at a meeting of the bank held on February 22.

Thus, the eight-month cycle of rate hikes started by the Central Bank last June has stopped.

Turkish key rate was last raised in January. Since then, it has remained at 45%. The regulator expects that inflation will almost halve and amount to 34% by the end of this year.