The Central Bank of the Republic of Turkey left its benchmark interest rate, the one-week repo rate, unchanged at 14.00% on Thursday, as market participants had been expecting. The CBRT's decision to hold interest rates comes despite the headline rate of Consumer Price (CPI) Inflation in Turkey surging above 60% YoY in March, according to data released earlier on this month. 

That means a real interest rate (as calculated by the CBRT benchmark rate minus the current YoY rate of CPI) of more than minus 46%. USD/TRY continues to trade in stable fashion near the 14.60 mark in wake of the rate decision.