Turkey’s Central Bank held its main interest rates steady this morning, in line with expectations.
The Monetary Policy Committee (MPC) kept the one-week repo rate at +8%. It held the overnight lending rate at +9.25% and held the overnight borrowing rate at +7.25%.
Note: Policy makers also kept the late-liquidity lending rate at +12.25% – the surcharge premium charged to domestic banks to borrow.
“The Central Bank will continue to use all available instruments in pursuit of the price stability objective. A tight stance in monetary policy will be maintained until inflation outlook displays a significant improvement,” the Central Bank said in a statement.
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