Turkish central bank keeps key interest rate unchanged, pausing series of hikes

ANKARA, Turkey (AP) — Turkey’s central bank has left its key interest rate unchanged at 45%, pausing a series of aggressive rate hikes aimed at taming high inflation. The central bank said on Thursday it’s keeping the benchmark rate on hold. It’s the bank’s first interest rate decision under its newly appointed governor, Fatih Karahan. The move was in line with expectations that the rate would be kept constant after the bank said last month that monetary tightness needed to “establish the disinflation course” was achieved. Inflation remains high — consumer prices rose nearly 65% in January. Karahan was appointed earlier this month following the resignation of Turkey’s first woman governor, Hafize Gaye Erkan.