FOREX TradingCharts.com

Financial News: Turkey Central Bank Lifts Liquidity Rate

Turkey Central Bank Lifts Liquidity Rate

04/26/2017 - 07:59:00 (RTTNews)

(RTTNews) - Turkey's central bank decided to raise one of its lending rates by 50 basis points, and retained all other main rates on Wednesday.

The central bank hiked late liquidity window rate to 12.25 percent from 11.75 percent. The bank had lifted the rate by 75 basis points in March.

The Marginal Funding Rate, was kept at 9.25 percent. The bank had previously raised the rate by 75 basis points in January.

The overnight borrowing rate was held steady at 7.25 percent and the one-week repo rate was left unchanged at 8 percent.

The committee decided to strengthen the monetary tightening in order to contain the deterioration in the inflation outlook. Policymakers said they will continue to use all available instruments in pursuit of the price stability objective.

The bank said tight stance in monetary policy will be maintained until 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, the bank added.

Today's move is likely to push up the average cost of funding and interbank interest rates, resulting in a tightening of monetary conditions, William Jackson, an economist at Capital Economics, said.

The economist said headline inflation is very close to peaking and further rate hikes are unlikely.

If policymakers are indeed more worried than usual about inflation - as today's decision would suggest - then they may be slower to reverse recent rate hikes than has been the case in the past, Jackson noted.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. GDP Growth Upwardly Revised More Than Expected In Q1 (14 min(s), 35 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Friday showed that the U.S. economy gr ...Full Story»

U.S. Durable Goods Orders Pull Back Less Than Expected In April (21 min(s), 35 sec(s) ago)
(RTTNews) - New orders for U.S. manufactured durable goods pulled back by less than expected in th ...Full Story»

Brazil Producer Prices Decline In April (32 min(s), 35 sec(s) ago)
(RTTNews) - Brazil's producer prices decreased in April after rising in the previous month, pr ...Full Story»

Taiwan Sees 2017 Growth At 3-year High (36 min(s), 35 sec(s) ago)
(RTTNews) - Taiwan's economy is set to expand at the fastest pace in three years in 2017 on im ...Full Story»

IMF: Ukraine Should Decisively Implement Structural Reforms (38 min(s), 35 sec(s) ago)
(RTTNews) - The Ukraine economy continues to recover but decisive implementation of structural ref ...Full Story»

Singapore GDP Growth Likely To Improve On Strong Export Demand (01 hr(s), 24 min(s), 35 sec(s) ago)
(RTTNews) - Singapore's economic growth is likely to improve in the coming quarters of this ye ...Full Story»

Lithuania Retail Sales Growth Eases Further (01 hr(s), 46 min(s), 35 sec(s) ago)
(RTTNews) - Lithuania's retail sales growth moderated for the third straight month in April, f ...Full Story»

German Exporters' Confidence Highest Since Jan 2014, Ifo Study (02 hr(s), 03 min(s), 35 sec(s) ago)
(RTTNews) - Confidence among Germany's exporters was the highest in nearly three-and-a-half ye ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. GDP Growth Upwardly Revised More Than Expected In Q1

05/26/2017 - 08:46 AM (RTTNews)
(RTTNews) - A report released by the Commerce Department on Friday showed that the U.S. economy gr ...Full Story>>

U.S. Durable Goods Orders Pull Back Less Than Expected In April

05/26/2017 - 08:39 AM (RTTNews)
(RTTNews) - New orders for U.S. manufactured durable goods pulled back by less than expected in th ...Full Story>>

Brazil Producer Prices Decline In April

05/26/2017 - 08:28 AM (RTTNews)
(RTTNews) - Brazil's producer prices decreased in April after rising in the previous month, pr ...Full Story>>

Taiwan Sees 2017 Growth At 3-year High

05/26/2017 - 08:24 AM (RTTNews)
(RTTNews) - Taiwan's economy is set to expand at the fastest pace in three years in 2017 on im ...Full Story>>

IMF: Ukraine Should Decisively Implement Structural Reforms

05/26/2017 - 08:22 AM (RTTNews)
(RTTNews) - The Ukraine economy continues to recover but decisive implementation of structural ref ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.