Turkey's Central Bank goes hawkish, maintaining the Intrerest Rate unchanged for four consecutive months.

On July 23, Jinshi data, the Central Bank of Turkey maintained the Intrerest Rate unchanged for the fourth consecutive month, vowing to maintain a tight stance until the month-on-month inflation rate continues to slow. On Tuesday, the Central Bank monetary policy committee led by Governor Karahan decided to keep the Intrerest Rate unchanged at 50%, in line with analysts' expectations. The monetary policy committee also gave a hawkish guidance on future actions, warning that inflation in July "will temporarily rise". The statement said: "In addition to the high level and stickiness of service industry inflation, inflation expectations, geopolitical risks, and food prices also keep inflation pressure persistently present."