Turk­ish rates.

Kathimerini English - - Focus -

Turkey’s cen­tral bank left key in­ter­est rates un­changed for the sec­ond straight month yes­ter­day, stick­ing to a hawk­ish stance as it bal­ances dou­ble-digit in­fla­tion with Pres­i­dent Re­cep Tayyip Er­do­gan’s calls for cheaper credit. As ex­pected, the bank kept its late liq­uid­ity win­dow – the high­est of the mul­ti­ple in­stru­ments it uses to set pol­icy – at 12.25 per­cent and left the bench­mark repo rate at 8 per­cent. “The cen­tral bank will con­tinue to use all avail­able in­stru­ments in pur­suit of the price sta­bil­ity ob­jec­tive,” the bank’s mon­e­tary pol­icy com­mit­tee said in a state­ment. “A tight stance in mon­e­tary pol­icy will be main­tained un­til the in­fla­tion out­look dis­plays a sig­nif­i­cant im­prove­ment.” The cen­tral

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