Turkey's central bank has not changed its interest rate. It is still 46%

The Central Bank of Turkey (CBT) left its benchmark one-week repo rate unchanged at 46 percent, the bank said in a statement. Analysts surveyed by Bloomberg had expected interest rates to remain unchanged at 46 percent.

The CBT said in a statement that elevated inflation expectations remain a downside risk. The bank added that the path to disinflation remains uncertain.

During the previous meeting, the central bank raised the main interest rate by 350 basis points. During the last rate cut cycle, the CBT lowered the benchmark interest rate by a total of 750 basis points.

After 1 p.m., the Turkish lira weakens against the dollar - the USD/TRY rate is up 0.06 percent to 39.5597. The Turkish currency remains the weakest against the USD in history. This year, it has weakened against the dollar by about 12 percent. (PAP Biznes)

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