Central Banks

Iran War Forces Turkey to Rethink Rates Path and Put Cuts on Ice

The Turkish central bank building in Istanbul.Photographer: Emre Caylak/Bloomberg

Turkey’s cycle of interest-rate cuts will likely end on Thursday as a war-driven spike in global energy prices threatens to reignite the country’s inflation woes.

All but one of the 17 analysts surveyed by Bloomberg expects the central bank to hold the one-week repo rate at 37% after five consecutive cuts dating back to July.