Turkey Unexpectedly Held Rates in October

The Turkish Central Bank unexpectedly halted its long cycle of rate cuts due to the rapid depreciation of the lira and rising consumer inflation. Political pressures for lower interest rates were diminishing, with signs of economic slowdown evident. Two senior advisors to President Erdogan indicated that rate cuts should not be assumed, citing concerns over the lira's trading level. The Central Bank remains cautious and will monitor the lira's performance before making future rate decisions.

What were the reasons behind the Turkish Central Bank's decision to stop the rate cuts?

How did political pressures influence the Turkish Central Bank's interest rate decisions?

What signs indicated that the Turkish economy was slowing down?

What concerns did President Recep Tayyip Erdogan's advisors express regarding interest rate cuts?

What is the outlook for the Turkish Lira according to economists and investors?