Turkish Central Bank keeps interest rates high as inflation weighs on economy
Cornered by rising inflation and a weakening currency, Turkey’s Central Bank kept its benchmark interest rate steady at 19% on May 6 as policymakers await positive signals.
![Women sit next to an exchange office at Laleli in Istanbul, Turkey, March 22, 2021.](/sites/default/files/styles/article_hero_medium/public/2021-05/GettyImages-1231872522.jpg?h=a5ae579a&itok=08a10KvS)
ISTANBUL — Turkey’s Central Bank policymakers kept interest rates steady May 6 for a second meeting in a row, seeking to keep them above the nation’s rising inflation and anchor the Turkish lira after a recent slide.
In a statement issued with Thursday’s decision, the bank’s Monetary Policy Committee said it would hold its benchmark interest rate at 19% and keep the stance until a “significant fall” in inflation.