Central Bank holds interest rates as expected
Turkey’s central bank held ts ma n nterest rates steady on Sept. 14, n l ne w th expectat ons, to slow double-d g t nflat on, wh le econom c growth rema ns strong. The central bank kept the late-l qu d ty lend ng rate at 12.25%, thereby charg ng Turk sh banks more f they need to borrow just before local markets close. The Monetary Pol cy Comm ttee n Ankara kept the one-week repo rate at 8%. It held the overn ght lend ng rate at 9.25% and held the overn ght borrow ng rate at 7.25%. “The central bank w ll cont nue to use all ava lable nstruments n pursu t of the pr ce stab l ty object ve. T ght stance n monetary pol cy w ll be ma nta ned unt l nflat on outlook d splays a s gn f cant mprovement,” the central bank sa d n a statement.