Turkey's Central Bank cut interest rate from 47.5% to 45%

The Turkish Central Bank has lowered its key rate from 47.5% to 45%. The decision was published on Thursday, January 23, on the website of the regulator.

It is noted that tight monetary policy strengthens the process of reducing inflation, but it will be maintained until price stability is achieved.

"The Committee will make its decisions prudently on the basis of meetings, with a focus on the inflation outlook. Monetary policy tools will be effectively utilized if a significant deterioration in inflation is forecast," the statement said.

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Earlier, on December 26, 2024, it was reported that the Turkish Central Bank cut the discount rate from 50 percent to 47.5 percent. Its level fell for the first time in two years. The regulator noted that indicators for the last quarter show that domestic demand, which is at the level of deinflation, continues to slow down.