Egypt's central bank kept its overnight interest rates unchanged on Thursday, as expected, saying that while inflation was set to decelerate sharply in early 2025 it nonetheless remained high.

Turkey’s central bank lowered its key interest rate by 2.5 percentage points to 47.5% on Thursday, carrying out its first rate cut in nearly two years as it tries to control soaring inflation. Citing slowing inflation,

Policymakers in Frankfurt indicated a clear dovish shift, but exactly where they will stop rate cuts remains a topic of debate.

Turkey's central bank cut its key interest rate by 250 basis points to 47.5% on Thursday, at the top end of expectations, launching an easing cycle meant to leave behind protracted economic turmoil and a cost-of-living crisis.

Russia’s central bank left its key interest rate unchanged as it struggles to contain a surge in inflation driven by the diversion of men and material to prosecute Vladimir Putin’s invasion of Ukraine.

Turkey’s central bank lowered interest rates for the first time in almost two years after consumer inflation showed signs of easing and said that future easing steps would depend on price data.

Turkey's central bank lowered its key interest rate on Thursday, the first cut in nearly two years as it battles with double-digit inflation.