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Turkey’s Central Bank holds rates steady

by ChemOrbis Editorial Team - content@chemorbis.com
  • 21/11/2014 (11:30)
According to media reports, Turkey’s Central Bank held its main rates steady on November 20 for a third consecutive month. The bank kept its repurchase rate unchanged at 8.25%, the overnight lending rate at 11.25% and the overnight borrowing rate at 7.5%.

Analysts commented that the Turkish central bank is likely to maintain a tight monetary policy until there is a significant improvement in the inflation outlook. The country’s inflation climbed to an annualized rate of 8.96% in October from 8.86% in September because of higher food prices. The bank expects the country’s inflation to fall to 6.1% in 2015.
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