Turkish Central Bank holds interest rate at 8.25 percent

Central Bank reiterates commitment to tight money policy until inflation outlook changes.

Turkish Central Bank holds interest rate at 8.25 percent

World Bulletin/News Desk

The Turkish Central Bank has left its benchmark interest rate at 8.25 percent for the fifth month in a row, according to a Central Bank statement released on Wednesday.

The Central Bank's decision was observed closely by markets -- the Istanbul stock market was up 0.4 percent after the announcement. 

The Monetary Policy Committee also reiterated the bank’s commitment to a tight monetary policy until there is a significant reduction in the outlook for inflation. Inflation is currently at about 9 percent, and is expected to go higher in the coming weeks.

Policymakers kept the overnight lending rate at 11.25 percent and maintained the overnight borrowing rate at 7.50 percent.

 

Last Mod: 24 Aralık 2014, 15:09
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