The Turkish central bank on Thursday kept its policy rate on hold at 14%, in line with expectations, even though the country's inflation rate reached a two-decade high in March, APA-Economics reports citing Market Watch.
A combination of the lira's fall, higher commodity prices and a large minimum wage increase at the start of the year have contributed to higher prices, with annual inflation accelerating to 61.1% in March from 54.4% in February.
The central bank said its committee expects a disinflation process to start on the back of high base effects and a resolution of the war in Ukraine.
Turkey's central bank has left interest rates on hold since its meeting in December, after a series of interest rate cuts between September and December last year.
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