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Turkey’s Central Bank kept policy rate unchanged

by ChemOrbis Editorial Team -
  • 16/03/2017 (15:27)
According to media reports, Turkey’s Central Bank kept main policy rate unchanged at 8 while it increased a late liquidity window by 0.75 base points from 11% to 11.75%. A late liquidity window represents the fund the Central Bank provides to the banks which cannot find loans from markets.

The bank said that domestic demand is still relatively weak while the increasing demand from the European Union continued to have a positive effect on the country’s exports, which is expected to perpetuate the rebounding in the business activities together with the help of the contribution of the incentives and measures taken.

The Central Bank also predicts that the recent parity changes might cause the inflation to go up further visibly in short term. Therefore, the Bank decided to tighten monetary policy in order to reduce the negative inflation outlook.
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