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Turkey Keeps Key Rate Unchanged as Inflation Backlash Builds

  • Benchmark left at 14% as price gains at two-decade high
  • Rate cuts during late 2021 led to a slump in the currency
Customers visit a market in Eskisehir, Turkey.

Customers visit a market in Eskisehir, Turkey.

Photographer: Moe Zoyari/Bloomberg
Updated on

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Turkey’s central bank kept its benchmark interest rate unchanged for a second month on Thursday, as President Recep Tayyip Erdogan’s government struggles to contain price surges that could threaten his two-decade rule.