Turkey’s Karahan Said to Signal No Rush to Ease Before Late July (opens original article in a new tab)

Turkish central bank Governor Fatih Karahan indicated no immediate plans to ease monetary policy before the July 23 interest rate meeting, keeping borrowing costs high as the bank waits to assess inflation data.

• Turkish central bank Governor Fatih Karahan ruled out resuming weekly repo funding before the July 23 interest rate meeting.
• Karahan stated that restarting repo funding before the decision wouldn't make sense due to the need to assess inflation readings.
• The central bank maintained its benchmark one-week repo rate at 37% this month, with some expecting a potential rate cut next month.