Turkey’s Central Bank Holds Rates Steady

Turkey Central Bank

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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