Turkey’s central bank cut its repo rate by 250 basis points to 42.5% from 45% as annual inflation figures pointed to better-than-expected momentum, allowing for an easing of monetary tightening.
Turkey’s annual inflation rate fell for the 9th straight month to 39.1% in February, down from 42.1% the previous month, according to the Turkish Statistical Institute. That was below market estimates of 39.9% and the lowest figure since June 2023.
It was the first time inflation has fallen below 40% in 20 months.
February’s decline was due to easing price pressures on clothing and healthcare services.
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