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.
Turkish Foreign Minister Hakan Fidan emphasized the urgency of a U.S.-Iran agreement to prevent further regional escalation, pointing to ongoing diplomatic momentum following recent military tensions.
Azerbaijan’s top general observed major drills in Türkiye and met senior Turkish defence leaders, underscoring the allies’ growing military partnership.
Türkiye has thrown its full support behind NATO’s new pledge to raise collective defence spending to 5% of GDP by 2035, with Ankara confirming it is already surpassing the previous 2% benchmark and accelerating efforts to bolster national and regional security.
President Recep Tayyip Erdogan has said that U.S. President Donald Trump is ready to join a Ukraine peace summit in Türkiye, but only if Russian President Vladimir Putin also agrees to attend.
Türkiye supports NATO's new 5% defence spending target and says it has already surpassed the previous 2% benchmark, according to a Turkish defense ministry source.
Ukraine's Security Service carried out overnight airstrikes on a Russian military airfield in occupied Crimea, reportedly destroying three helicopters and a key air defense system.
A former Venezuelan military intelligence official has pleaded guilty in the United States to drug trafficking and narco-terrorism charges, concluding a two-year legal process following his extradition.
Azerbaijan has summoned Russia’s envoy in Baku to protest the deadly raids targeting Azerbaijani nationals in Yekaterinburg, demanding a full investigation and accountability.
Iran has barred the UN nuclear watchdog’s chief from entering the country and suspended camera installations at its nuclear facilities, escalating tensions over transparency following recent military clashes.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
The U.S. Embassy in Qatar has advised American citizens to shelter in place amid rising tensions between Israel and Iran, as part of a broader global security alert issued by Washington.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Azerbaijan has summoned Russia’s envoy in Baku to protest the deadly raids targeting Azerbaijani nationals in Yekaterinburg, demanding a full investigation and accountability.
Iran has barred the UN nuclear watchdog’s chief from entering the country and suspended camera installations at its nuclear facilities, escalating tensions over transparency following recent military clashes.
The UN has welcomed a U.S.-brokered peace deal between the Democratic Republic of the Congo and Rwanda, calling it a major step toward regional stability.
President Ilham Aliyev received the credentials of Iran’s newly appointed ambassador Mojtaba Demirchilou, highlighting the strengthening of Azerbaijan-Iran relations and discussing broad prospects for cooperation across multiple sectors.
Ukraine's Security Service carried out overnight airstrikes on a Russian military airfield in occupied Crimea, reportedly destroying three helicopters and a key air defense system.
A former Venezuelan military intelligence official has pleaded guilty in the United States to drug trafficking and narco-terrorism charges, concluding a two-year legal process following his extradition.
Azerbaijan has summoned Russia’s envoy in Baku to protest the deadly raids targeting Azerbaijani nationals in Yekaterinburg, demanding a full investigation and accountability.
Iran has barred the UN nuclear watchdog’s chief from entering the country and suspended camera installations at its nuclear facilities, escalating tensions over transparency following recent military clashes.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment