Step 1: Apply the Sine Rule.
The sine rule states that in any triangle, the ratio of the length of a side to the sine of its opposite angle is constant: \( \frac{a}{\sin A} = \frac{b}{\sin B} = \frac{c}{\sin C} = k \), where \( k \) is a constant.
From this, we have \( \sin A = ak \) and \( \sin C = ck \).
Step 2: Substitute the expressions from the Sine Rule into the given equation.
The given equation is \( \cos B = \frac{\sin A}{2 \sin C} \). Substituting the expressions for \( \sin A \) and \( \sin C \):
$$\cos B = \frac{ak}{2(ck)} = \frac{a}{2c}$$
Step 3: Apply the Cosine Rule for angle B.
The cosine rule states that \( b^2 = a^2 + c^2 - 2ac \cos B \), which can be rearranged to express \( \cos B \) as:
$$\cos B = \frac{a^2 + c^2 - b^2}{2ac}$$
Step 4: Equate the two expressions for \( \cos B \).
From Step 2 and Step 3, we have:
$$\frac{a}{2c} = \frac{a^2 + c^2 - b^2}{2ac}$$
Step 5: Simplify the equation.
Multiply both sides by \( 2ac \):
$$a^2 = a^2 + c^2 - b^2$$
Subtract \( a^2 \) from both sides:
$$0 = c^2 - b^2$$
Rearrange the terms:
$$b^2 = c^2$$
Step 6: Deduce the relationship between the sides.
Taking the square root of both sides, and knowing that side lengths must be positive, we get:
$$b = c$$
Step 7: Identify the type of triangle.
Since two sides of the triangle (\( b \) and \( c \)) are equal in length, the triangle is an isosceles triangle.