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.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Activity pick-up sends Asian spot C3 market into recovery mode
- Total polymer imports to EU28 hit record high in 2019
- March PE expectations in Turkey weighed by new capacities, cooling demand
- PP prices hit 4-year low in China as demand remains minimal
- Taiwanese major’s March PVC offers to Asia up despite virus fears
- Virus-impacted demand inflicts toll on Vietnam's PE market
- HDPE fails to track firmer trend of LD, LLDPE in Europe
- China’s ABS market on soft path dragged by subdued demand
- Softening trend prevails in SEA PP market as virus fears dampen sentiment
- Chinese producers cut PET offers further amid coronavirus outbreak
