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Financial News: Turkey Keeps Rates On Hold

Turkey Keeps Rates On Hold

10/26/2017 - 07:34:00 (RTTNews)

(RTTNews) - Turkey's central bank left its key interest rates unchanged on Thursday for the fourth policy session in a row.

The Monetary Policy Committee, led by TCMB Governor Murat Cetinkaya, kept the one-week repo rate unchanged at 8 percent, in line with economists' expectations.

The late liquidity window lending interest rate was retained at 12.25 percent, and the borrowing rate was maintained at zero percent.

The marginal funding rate and the borrowing rate were held at 9.25 percent and 7.25 percent, respectively.

The committee decided to maintain the tight stance of monetary policy as elevated levels of inflation and the developments on core inflation outlook continue to pose risks on the pricing behaviour.

The bank said tight stance will be maintained decisively until inflation outlook displays a significant improvement and becomes consistent with the targets.

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