Turkey Pauses Rate Cuts as Iran War Poses Inflationary Pressures

Turkey’s central bank held its benchmark interest rate steady on Thursday, pausing a cycle of cuts because of a war-driven spike in energy prices and currency pressures.

The Monetary Policy Committee, led by Governor Fatih Karahan, left the one-week repo rate unchanged at 37%. The result was in line with the expectations of all but one of 17 analysts surveyed by Bloomberg.