Turkey's central bank holds rate at 37% for a fourth meeting; lira near record low

The Central Bank of the Republic of Turkey kept its policy rate (the one-week repo) unchanged at 37 percent at its meeting on Thursday, 23 July 2026, holding for a fourth consecutive time and in line with analysts' expectations. The Monetary Policy Committee, chaired by Governor Fatih Karahan, said underlying inflation eased slightly in June but leading indicators point to a possible rebound in July, with the regional war and higher energy prices keeping inflation risks elevated.

The Turkish lira traded near a record low of about 47.2 to 47.3 per US dollar over the same period. Turkey is a major travel and trade destination for Iranians, so lira swings feed into the cost of travel and imports from the country.