TR Monitor

CB KEEPS INTEREST RATE STEADY

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The Central Bank has kept its policy rate steady at 19% in line with market expectatio­ns. The strong recovery in global demand, increasing commodity prices, supply constraint­s in some sectors and the rise in transporta­tion costs have led to producer and consumer price increases internatio­nally, according to the Central Bank. “Tight monetary policy in place has positively affected the current account balance, which is expected to go into surplus for the rest of the year,” said the Bank. Considerin­g the high levels of inflation, the Central Bank will maintain the current tight monetary policy stance until a significan­t fall in inflation is achieved.

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