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.
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The European Central Bank (ECB) welcomed news of a preliminary ceasefire agreement between the U.S. and Iran on Monday, as hopes of a reopening of the Strait of Hormuz pushed oil prices lower and reduced expectations of further interest rate rises in the eurozone.
Domestic economic conditions are playing a growing role in shaping the outlook for Azerbaijan, Armenia, Kazakhstan and Uzbekistan, according to global financial services group ING.
India is expected to experience its weakest monsoon in more than a decade in 2026, raising concerns over crop production, food prices and economic growth as the country also grapples with inflationary pressures linked to the Iran conflict.
UK shop price inflation rose to 1.2% in May from 1.0% in April as retailers continued to face mounting cost pressures across supply chains, according to new industry data.
Details of a reported draft memorandum of understanding between the United States and Iran offer the clearest picture yet of how both sides plan to end months of conflict and move towards a longer-term settlement.
The U.S. and Iran say they have reached a deal to end their conflict, with an immediate ceasefire and reopening of the Strait of Hormuz after the lifting of the U.S. naval blockade. Talks will continue over the next 60 days to finalise the agreement
A senior U.S. official said on Monday that the memorandum of understanding linked to the U.S.-Iran agreement had been signed by President Donald Trump, Vice President JD Vance and Iranian Parliament Speaker Mohammad Bagher Qalibaf.
Israeli Prime Minister Benjamin Netanyahu has told U.S. President Donald Trump that Israel does not consider itself bound by a Lebanon-related provision in an emerging agreement with Iran, according to Israeli officials.
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Kazakhstan has signed a $10 billion agreement with Firebird and NVIDIA to build one of Central Asia's largest AI computing hubs, as governments increasingly compete for the infrastructure needed to power artificial intelligence.
A secretive offshore oil transfer network backed by U.S. military support has helped keep Gulf energy exports flowing despite major disruption around the Strait of Hormuz, a Reuters investigation has found.
Azerbaijan’s President Ilham Aliyev has praised U.S. President Donald Trump for his role in advancing peace efforts in the South Caucasus, describing recent diplomatic developments as an important step towards long-term regional stability.
Oil prices edged lower on Tuesday (16 June) as traders assessed the possibility of oil supplies returning through the Strait of Hormuz following a preliminary agreement aimed at ending the conflict involving Iran.
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