The Board considered it appropriate to slow the pace of monetary policy tightening

The Central Bank of Turkey raised its benchmark one-week repo rate by 250 basis points to 42.5% in December 2023, as expected, following a limited rise in consumer inflation in November, in line with the forecast presented in the latest Inflation Report. 

This is reported by Trading Economics.

The Board considered it appropriate to slow down the pace of monetary policy tightening, as the necessary level of tightening to achieve disinflation has almost been achieved. The NBU plans to complete the steps to tighten monetary policy as soon as possible.