Central Bank keeps policy rate unchanged

The Turk sh Central Bank (CBRT) on January 23 kept ts one-week repo rate - also known as the pol cy rate - constant at 24 percent.

The dec s on came n a statement from the bank’s Monetary Pol cy Comm ttee (MPC) meet ng, the f rst of e ght meet ngs scheduled for the year. “Recently released data show that the rebalanc ng trend n the economy has become more not ceable,” the Bank sa d n a statement. “External demand ma nta ns ts strength wh le the slowdown n econom c act v ty cont nues, partly due to t ght f nanc al cond t ons. The current account balance s expected to ma nta n ts mprov ng trend,”

sa d. “Wh le developments n mport pr ces and domest c demand cond t ons have led to some mprovement n the nflat on outlook, r sks on pr ce stab l ty cont nue to preva l. Accord ngly, the Comm ttee has dec ded to ma nta n the t ght monetary pol cy stance unt l the nflat on outlook d splays s gn f cant mprovement,” the statement sa d.