Turkey trims key interest rate to 38%
Summary
Turkey's central bank cut its key interest rate to 38% amid slowing annual inflation, which dropped to 31.1% in November, the lowest in four years.
Key Points
- Turkey's central bank reduced its key interest rate from 39.5% to 38%.
- Annual inflation in Turkey slowed to 31.1% in November from 32.87% in October.
- Inflation reached a peak of over 75% in May 2024 before starting to decline.
- The central bank cautioned that inflation expectations and pricing behaviour still pose risks to the disinflation process.
