CBRT leaves policy rate (one-week repo auction rate) unchanged at 24% as expeted

Eren Sengezer FXStreet

In a widely expected decision, the Central Bank of the Republic of Turkey (CBRT) today announced that it kept the policy rate (one-week repo auction rate) constant at 24%.

Key takeaways from the press release

Recently released data show that rebalancing trend in the economy has continued.
Developments in domestic demand conditions and the tight monetary policy support disinflation.
In order to contain the risks to the pricing behavior and to reinforce the disinflation process, the Committee has decided to maintain the tight monetary policy stance.
Factors affecting inflation will be closely monitored and, monetary stance will be determined to keep inflation in line with the targeted path.
It should be emphasized that any new data or information may lead the Committee to revise its stance.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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