Türkiye's central bank held interest rates at 50% as expected but cautioned that recent data had lifted inflation uncertainty, in a hawkish signal ahead of an expected easing cycle in coming months.
The bank said in a statement released after the Monetary Policy Committee meeting on Oct. 17 that the tight monetary stance will be maintained until a significant and sustained decline in the underlying trend of monthly inflation is observed, and inflation expectations converge to the projected forecast range.
Analysts believe that the message could reinforce the view that the bank will wait until around January to ease monetary policy, after a more than year-long effort to slay years of soaring inflation.
The last time the bank raised its main policy rate was in March, when it hiked by 500 basis points to round off an aggressive tightening cycle that started in June last year. Since then, it has kept the one-week repo rate on hold.
In a change of messaging last month, it began setting the stage for a rate cut by dropping a reference to potential further tightening. Yet after monthly inflation was higher than expected at nearly 3% in September, a poll showed analysts expected the bank to wait until December or January to begin its anticipated easing cycle.
Armenia remains hopeful that talks with Türkiye on reopening the border will yield positive results, with National Assembly Speaker Alen Simonyan reaffirming the country’s commitment to regional peace and stability, as reported by Armenian media.
Turkey has begun exporting around 15,000 tonnes of eggs to the United States as a devastating outbreak of bird flu is slashing U.S. production and sending prices soaring, a leading sector official said on Wednesday.
Ukrainian President Volodymyr Zelenskyy met with Turkish President Tayyip Erdogan on Tuesday, February 18, to discuss the ongoing war in Ukraine.
Turkish police arrested 282 individuals allegedly connected to the PKK terrorist group during nationwide raids over the last five days. Turkish Interior Minister Ali Yerlikaya announced on Tuesday.
Türkiye commemorates 73 years of NATO membership, emphasising its vital role in global security. As a key ally since 1952, Ankara continues to strengthen the alliance through its strategic position and military capabilities, reinforcing shared values amid evolving Euro-Atlantic security challenges.
As US-Russia peace talks advance, Ukrainian President Volodymyr Zelenskyy intensifies diplomatic efforts, holding discussions with multiple world leaders to rally support for Ukraine’s sovereignty and regional security.
Hamas has begun releasing six more hostages from Gaza on Saturday in exchange for hundreds of Palestinian prisoners, as Israel confirmed that a body handed over earlier was that of hostage Shiri Bibas.
Start your day informed with AnewZ Morning Brief: here are the top news stories for February 22nd, covering the latest developments you need to know.
A tragic crowd crush at New Delhi Railway Station on Saturday night left 18 dead and 10 injured as thousands of people, many heading to the Kumbh Mela festival, attempted to board delayed trains. The incident highlights the ongoing risks of overcrowding at public transportation hubs in India.
A Delta Air Lines regional jet flipped upside down upon landing at Toronto Pearson Airport on Monday, injuring 18 people. Officials are investigating whether strong winds and snow played a role in the incident.
Berlin, February 21, 2025 – German citizens will head to the polls on Sunday, February 23, for a snap general election after the coalition government collapsed late last year.
Hamas has handed over the bodies of Israeli hostage Shiri Bibas and her two young children, Ariel and Kfir, deepening national mourning in Israel. Their fate had remained uncertain for months after their abduction during the October 7, 2023 attack.
The Asian Development Bank approved a $125 million loan to support Uzbekistan in modernizing water management, improving water security, and increasing access to safe and reliable water in the country.
Afghanistan’s Taliban leaders dismissed the International Criminal Court’s (ICC) jurisdiction over the country, labeling their predecessors' 2003 decision to join the Hague-based court’s founding treaty as "unlawful."
As US-Russia peace talks advance, Ukrainian President Volodymyr Zelenskyy intensifies diplomatic efforts, holding discussions with multiple world leaders to rally support for Ukraine’s sovereignty and regional security.
Hamas has begun releasing six more hostages from Gaza on Saturday in exchange for hundreds of Palestinian prisoners, as Israel confirmed that a body handed over earlier was that of hostage Shiri Bibas.
Start your day informed with AnewZ Morning Brief: here are the top news stories for February 22nd, covering the latest developments you need to know.
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