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Turkey’s central bank keeps interest rates stable

by ChemOrbis Editorial Team -
  • 19/01/2016 (17:11)
Turkey’s central bank kept its benchmark interest rate unchanged today for an eleventh consecutive month, in line with expectations, according to media reports. The bank kept the one-week repo rate at 7.50% and the overnight lending rate at 10.75% while the borrowing rate remained at 7.25%. Following the central bank’s decision, lira weakened further to be currently traded at around 3.04 against the US dollar.

In December, the bank held rates steady, although economists had expected the bank to increase interest rates to limit inflation and support the lira. The bank had also reported that it was planning to begin steps to simplify its monetary policy if market volatility remained in place, although no further updates about its simplification plans emerged from the bank’s most recent meeting.
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