Turk­ish cbank takes steps to ease pol­icy

The Pak Banker - - COMPANIES/BOSS -

The Turk­ish Cen­tral Bank said on Fri­day it de­cided to take a "mea­sured" step to­wards pol­icy sim­pli­fi­ca­tion at its meet­ing this week, given the eas­ing in global volatil­ity and the less­en­ing need for a wide in­ter­est rate cor­ri­dor. In a pre­sen­ta­tion to econ­o­mists, pub­lished on its web­site, the bank said im­prove­ment in the un­der­ly­ing core in­fla­tion trend re­mained lim­ited, ne­ces­si­tat­ing the main­te­nance of a tight liq­uid­ity stance.

The bank cut the up­per end of its in­ter­est rate cor­ri­dor by 25 ba­sis points at Thurs­day's mone­tary pol­icy com­mit­tee meet­ing, a largely sym­bolic move at the last meet­ing of Gover­nor Er­dem Basci's cur­rent term.

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