Turkey’s Central Banks keeps key rates steady

According to media reports, Turkey’s Central Bank kept its key interest rates steady at their meeting held on June 15 at 9.25%, its borrowing rate at 7.25% and one week repo rate at 8% in line with the economists’ expectations.

The bank said an acceleration has been observed in the economic activity and it is expected to grow further in the near term on the back of the recent supportive measures and incentives provided. However, it also said the current rise in inflation poses a risk and that they will continue to use available monetary instruments in order to achieve their objective of price stability.”

The bank had last raised its interest rates in January.