Key interest rates on hold

Dünya Executive - - OVERVIEW -

The Central Bank kept its main interest rates steady on June 15, in line with market expectatio­ns. The bank kept its closely watched late liquidity window at 12.25% and its benchmark repo rate on hold at

8%, saying it would stick to a tight policy stance until the inflation outlook significan­tly improved. All 16 economists polled by Reuters predicted the bank would leave the repo rate unchanged, as well as correctly predicting that the overnight lending rate, at 9.25%, and the overnight borrowing rate, at 7.25%, would remain unchanged. The bank said it would continue to use all available instrument­s in pursuit of its price stability objective. “The tight stance in monetary policy will be maintained until the inflation outlook displays a significan­t improvemen­t. Inflation expectatio­ns, pricing behavior and other factors affecting inflation will be closely monitored and, if needed, further monetary tightening will be delivered,” it said in a bank press release.

Newspapers in English

Newspapers from Turkey

© PressReader. All rights reserved.