Turkey's central bank cuts key interest rate to 36%, citing downward inflation trend but noting geopolitical risks

Turkey's central bank has reduced its one-week repo rate by 100 basis points to 36%, aligning with market expectations. The Monetary Policy Committee indicated that recent inflation data and leading indicators suggest a downward trend, while economic activity points to weak domestic demand. However, the bank acknowledged that elevated energy prices amid ongoing geopolitical tensions remain a source of upward inflationary pressure.