Turkey’s central bank unexpectedly holds interest rates stable
by ChemOrbis Editorial Team - content@chemorbis.com
Turkey’s central bank unexpectedly held its benchmark interest rate unchanged today for a tenth 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%.
Reuters economists had expected the bank to increase the repo rate and overnight borrowing rates to limit inflation and to support the lira. Previously, the central bank also implied that it would raise rates in tandem with the US Federal Reserve’s rate hike.
Reuters economists had expected the bank to increase the repo rate and overnight borrowing rates to limit inflation and to support the lira. Previously, the central bank also implied that it would raise rates in tandem with the US Federal Reserve’s rate hike.
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