ISTANBUL—Turkey’s central bank left its key interest rate unchanged for a second consecutive month, pausing the government’s policy of interest-rate cuts that triggered a chaotic slide in the value of the lira last year.
The bank’s monetary policy committee said Thursday it left the benchmark interest rate on hold at 14%, in line with market expectations. In a statement, the bank cited “increasing geopolitical risks” in a possible reference to the crisis over nearby Ukraine. The lira had fallen about one 10th of a percent against the dollar during the day as of Thursday afternoon.
