Turkey's central bank maintains 50% policy rate amid rising inflation and economic uncertainty.

Turkey's central bank has kept its policy rate steady at 50%, responding to rising inflation and uncertainty in economic conditions. Analysts indicate no imminent rate cuts are expected. The bank noted a recent uptick in inflation trends, raising concerns about core price increases. Although President Erdogan's support is viewed positively, the lira is projected to gradually depreciate, with the exchange rate forecasted at 34.50 against the dollar by late 2024.