"Turkish Central Bank Halts 8-Month Hiking Cycle, Keeps Key Rate Unchanged"

Turkey's central bank has decided to keep its key interest rate at 45% after eight consecutive months of hikes, despite soaring inflation reaching roughly 65%. The move signals consistency with the strategy of the newly appointed governor, Fatih Karahan, and analysts expect the interest rate to remain unchanged for much of 2024. While inflation is projected to roughly halve by the end of the year, monetary easing could still be a possibility in 2025.