People shop at a market in Ankara, Türkiye, April 22, 2026. Türkiye's central bank kept its key policy rate unchanged at 37 percent on Wednesday, extending a cautious stance for a second straight month as price pressures persist following fallout from the Middle East conflict. (Mustafa Kaya/Handout via Xinhua)
ANKARA, April 22 (Xinhua) -- Türkiye's central bank kept its key policy rate unchanged at 37 percent on Wednesday, extending a cautious stance for a second straight month as price pressures persist following fallout from the Middle East conflict.
In March, the bank paused its rate-cutting cycle, warning that market turbulence linked to the Iran war could have implications for inflation.
The bank also left its overnight lending and borrowing rates unchanged at 40 percent and 35.5 percent, respectively, in line with market expectations.
The Monetary Policy Committee said in a statement after its meeting that energy prices "remain elevated and exhibit notable volatility" amid geopolitical developments and resulting uncertainties.
"The effects of these developments and domestic energy prices on the inflation outlook through the cost channel and economic activity are being closely monitored," the statement said.
Annual inflation in Türkiye slowed to 30.87 percent in March from 31.53 percent in February. ■
People shop at a market in Ankara, Türkiye, April 22, 2026.
Türkiye's central bank kept its key policy rate unchanged at 37 percent on Wednesday, extending a cautious stance for a second straight month as price pressures persist following fallout from the Middle East conflict. (Mustafa Kaya/Handout via Xinhua)
People shop at a market in Ankara, Türkiye, April 22, 2026.
Türkiye's central bank kept its key policy rate unchanged at 37 percent on Wednesday, extending a cautious stance for a second straight month as price pressures persist following fallout from the Middle East conflict. (Mustafa Kaya/Handout via Xinhua)
A teller shows Turkish lira banknotes at an exchange office in Ankara, Türkiye, on April 22, 2026.
Türkiye's central bank kept its key policy rate unchanged at 37 percent on Wednesday, extending a cautious stance for a second straight month as price pressures persist following fallout from the Middle East conflict. (Mustafa Kaya/Handout via Xinhua)
People walk past Türkiye's central bank in Ankara, Türkiye, on April 22, 2026.
Türkiye's central bank kept its key policy rate unchanged at 37 percent on Wednesday, extending a cautious stance for a second straight month as price pressures persist following fallout from the Middle East conflict. (Mustafa Kaya/Handout via Xinhua)
