Turkey cuts rates to 36 percent

The Turkish Central Bank has lowered its main interest rate for the first time since the start of the war with Iran, deciding to cut the one-week repurchase rate to 36% from 37%. This decision comes after inflation declined to its lowest level in nearly five years, reinforcing the likelihood of easing monetary policy, despite ongoing geopolitical risks and rising energy prices that could hinder inflation's decline. The bank warned that the increase in energy prices, resulting from geopolitical tensions, remains a threat, leading to higher costs for companies and delaying price stability. The bank will maintain a tight monetary policy until inflation stabilizes and expectations become less negative.

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