Turkey's central bank kept its key interest rate unchanged for a fifth consecutive session in Thursday and omitted its hawkish stance from the forward guidance, sending the lira further lower.
The Monetary Policy Committee, led by Governor Murat Cetinkaya, decided to keep the policy rate unchanged at 24 percent, the TCMB said in a statement. The decision was in line with economists' expectations.
The previous change in the rate was a massive hike in September. The rate was raised from 17.75 percent to 24 percent, despite strong pressure from the government for a rate cut.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.