cbrt war inflation
Turkey holds rates as Middle East war impedes disinflation
The CBRT held 37% for a fourth straight meeting (~July 23), citing a July inflation rebound driven by war energy prices as Brent touched $100, raised its 2026 inflation forecasts and defended a lira at a record low of 47.2/USD. Drove Turkey inflation near -5 to -6; the orthodox restrictive conduct held monetary independence at 0.