Turkish Central Bank Chief Ties Early Rate Cut to Clarity on Iran Conflict

Turkish central bank governor Fatih Karahan told investors at an Istanbul conference on Friday, July 10, 2026 (19 Tir 1405), that the bank wants to see the July inflation print and more clarity on the Iran conflict before resuming rate cuts, ruling out any move before the July 23 monetary policy meeting. Turkey's policy rate has held at 37 percent since June. Turkish monetary policy directly shapes the lira's path and the trade, tourism and gold flows between Turkey and Iran.