Turkiye’s central bank keeps interest rate unchanged

The Central Bank of Turkiye has kept the discount rate at 9%, Report informs referring to Turkish media.

“The Monetary Policy Committee of the Turkish Central Bank has kept the weekly repo interest rate unchanged at 9%,” the bank said in a statement.

In December, for the first time since July, the regulator did not cut the rate, leaving it at the same level. Before that, the regulator gradually reduced it from 14%.

Annual inflation in Turkiye slowed down to 64.27% in December from 84.39% in November, the National Institute of Statistics (TUIK) reported earlier. According to official data, the annual growth in the cost of housing and utilities (79.83%), soft drinks (77.9%) and transport services (54.5%) was the most significant.