Economics
Turkey Pauses Interest Rate Cuts After Surge in Inflation
- Central bank held key rate at 14%, in line with forecasts
- Erdogan signals more gradual easing in 2022 as economy adjusts
Sahap Kavcioglu
Photographer: Ali Balikci/Anadolu Agency via Getty Images
This article is for subscribers only.
Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.
Turkey’s central bank kept its benchmark interest rate unchanged Thursday, pausing a cycle of rate cuts and launching an “open-ended” policy review after inflation surged to its highest level since the beginning of President Recep Tayyip Erdogan’s 19-year rule.