"The Monetary Policy Committee (the Committee) has decided to keep the policy rate (the one-week repo auction rate) constant at 50 percent," the statement read.
Central Bank Deputy Governor Osman Akcay previously stated that a sustained decrease in inflation would be a prerequisite for considering a rate reduction.
Leading US investment banks, including Bank of America, Citi, and Morgan Stanley, expect Turkiye's key interest rate to remain at 50% at least until November, with the possibility of it staying at this level until the end of the year, as reported earlier by Turkish newspaper Dunya.