The Central Bank of Turkey keeps interest rates unchanged at 37%, as rising oil prices dampen expectations of a rate cut.

```html(1) The Monetary Policy Committee of the Central Bank of Turkey, led by Governor Karahan, decided on Thursday to keep the one-week policy rate unchanged at 37%, in line with the expectations of nearly all 19 analysts surveyed by institutions. (2) This move indicates policymakers are cautiously balancing slowing inflation with surging crude oil prices; in August, the annual headline inflation slowed beyond expectations to 31.5%, which had previously triggered expectations of a rate cut this month. (3) However, escalating tensions between Iran and the United States over the Strait of Hormuz have made decision-makers more cautious; Brent crude oil on Wednesday broke above $100 per barrel for the first time since July.```