Turkish Central Bank decides to keep rate at 50%

The Central Bank of Türkiye decided to keep the discount rate at the current 50% per annum. This was stated in the Central Bank's statement issued on April 25.

The rate was raised to current levels in March.

"Given the delayed consequences of tightening monetary policy, the committee decided to keep the policy rate unchanged",

the Central Bank of the Republic said.

The statement also said that the Central Bank intended to pursue a tight monetary policy until the beginning of a sustainable decline in inflation.

Let us remind you that the last time the rate in Türkiye exceeded the current level was in the spring of 2002. It was 54%.