Turkey holds interest rate amid rising inflation
Disinflation will start in the second half of the year, CBRT says
The Turkish central bank held its key policy rate at 50% on June 27, even as inflation continued to rise.
This is the third consecutive time it has held rates at this level. It raised the policy rate by 500 basis points to the current level in March.
Year-on-year inflation climbed to 75.45% in May, up from 69.8% in April, according to the Turkish statistical institute. But independent economists estimate it at much higher levels. Ena-Grup, an inflation research group, puts it at 120.6%
The central
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