Turkey’s central bank keeps interest rates steady
by ChemOrbis Editorial Team - content@chemorbis.com
Turkey’s central bank kept its benchmark interest rate stable on November 24 for a ninth consecutive month, 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%.
The central bank reported that they elected to wait for an anticipated US Federal Reserve rate increase before raising rates while adding that inflation, which is currently standing above 7%, is still above the bank’s target rate of around 5%.
The central bank reported that they elected to wait for an anticipated US Federal Reserve rate increase before raising rates while adding that inflation, which is currently standing above 7%, is still above the bank’s target rate of around 5%.
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