Turkey's central bank left its key interest rates unchanged on Thursday after lowering them sharply over the past four meetings as President Recep Tayyip Erdogan in Ankara raised the monthly minimum wage by nearly 55 percent to support households reeling under the pressure of rising cost of living and sky-rocketing inflation.
The Monetary Policy Committee of the Central Bank of the Republic of Turkey decided to hold the policy rate at 9.00 percent, as widely expected. The bank has lowered the policy rate by a cumulative 500 basis points since August despite inflation rising persistently. In November, consumer price inflation remained near 85 percent.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.