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22 Apr 2015
Turkey’s central bank leaves rates unchanged
FXStreet (Mumbai) - Turkey’s central bank left interest rates unchanged on Wednesday, even though Lira’s slide against the American dollar risks sending inflation higher.
The one-week repo rate was held unchanged at 7.50% and the overnight borrowing rate was held unchanged at 7.25%. The overnight lending rate remained at 10.75% and the primary dealers' overnight borrowing rate at 10.25%.
The decision was in line with the Reuters poll of 16 economists, which expected the bank to leave rates on hold at its monetary policy committee meeting. Pressure from President Tayyip Erdogan to cut rates has eased off in recent weeks. The country goes to parliamentary elections on June 7th.
The one-week repo rate was held unchanged at 7.50% and the overnight borrowing rate was held unchanged at 7.25%. The overnight lending rate remained at 10.75% and the primary dealers' overnight borrowing rate at 10.25%.
The decision was in line with the Reuters poll of 16 economists, which expected the bank to leave rates on hold at its monetary policy committee meeting. Pressure from President Tayyip Erdogan to cut rates has eased off in recent weeks. The country goes to parliamentary elections on June 7th.