Turkish Central Bank Deputy Governor: The Central Bank is not considering interest rate cuts now.

July 26th data from Jin10 News, Deputy Governor of the Central Bank of Turkey, Cevdet Akcay, stated that there is currently no consideration of an interest rate cut cycle, as premature easing may reignite inflation and prolong the suffering of the Turkish economy teetering on the edge of inflation cooling. He stated that the Central Bank is currently working hard to convince skeptical businesses and households that as long as a sustained period of inflation decline can be ensured, it will continue to maintain a tight policy. 'We haven't even considered an interest rate cut cycle at the moment,' Akcay said. Akcay added, 'Interest rate cuts will not be on the agenda until we observe a long-term decline in monthly inflation trends accompanied by other indicators that we closely follow.'