Turkish Central Bank Stands Pat on Rates Despite Easing Inflation
Turkey's central bank left its main interest rate unchanged Thursday, cementing an earlier move to lift rates after political tensions threatened to complicate efforts to bring rampant price inflation under control.
The bank said it would leave its one-week repo rate at 46%, the level to which it was brought in April as a means to counter volatile swings in the Turkish lira that followed the dramatic arrest and imprisonment of a prominent opposition politician, Istanbul Mayor Ekrem Imamoglu.
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