FOREX TradingCharts.com

Financial News: Turkish Central Bank Holds Rate Steady For Sixth

Turkish Central Bank Holds Rate Steady For Sixth Session

06/12/2019 - 07:31:00 (RTTNews)

(RTTNews) - Turkey's central bank left its key interest rate unchanged for a sixth consecutive policy session on Wednesday, after it dropped its hawkish stance in April and tightened reserve requirement in May.

The Monetary Policy Committee, led by Governor Murat Cetinkaya, kept the policy rate, which is the one-week repo auction rate, unchanged at 24 percent. The decision was in line with economists' expectations.

The previous change in the rate was a massive hike in September last year.

"Factors affecting inflation will be closely monitored and, monetary stance will be determined to keep inflation in line with the targeted path," the bank said. "It should be emphasized that any new data or information may lead the Committee to revise its stance," the TCMB added.

In April, the bank dropped its earlier pledge that "further monetary tightening will be delivered" from its forward guidance, thus signaling a dovish shift.

The bank decided to maintain the tight monetary policy stance to contain the risks to the pricing behavior and to reinforce the disinflation process. Citing the recent data, the central bank said that rebalancing trend in the economy has continued.

The economic activity is sluggish, thanks partly to tightened financial conditions, while external demand is displaying relative strength, the bank added. The TCMB expects the current account balance to maintain its improving trend.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Housing Starts Unexpectedly Drop From Upwardly Revised Level (07 hr(s), 02 min(s), 37 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Tuesday showed new residential constru ...Full Story»

ECB's Draghi Signals Further Rate Cuts Stoking Trump's Ire (07 hr(s), 54 min(s), 37 sec(s) ago)
(RTTNews) - European Central Bank President Mario Draghi said on Tuesday that the central bank sti ...Full Story»

U.S. Housing Starts Unexpectedly Slide 0.9% In May (09 hr(s), 01 min(s), 37 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Tuesday showed new residential constru ...Full Story»

Japan Govt Maintains Economic Assessment (09 hr(s), 10 min(s), 37 sec(s) ago)
(RTTNews) - Japan's government maintained its economic assessment in June, the latest monthly ...Full Story»

German Economic Sentiment Plunges On Trade Disputes, Weak Data (09 hr(s), 36 min(s), 37 sec(s) ago)
(RTTNews) - Germany's economic confidence weakened sharply to a seven-month low in June on tra ...Full Story»

Eurozone May Inflation Unrevised (11 hr(s), 14 min(s), 37 sec(s) ago)
(RTTNews) - Eurozone inflation slowed sharply in May to its lowest level in over a year and core p ...Full Story»

Eurozone Trade Surplus At 5-Month Low (11 hr(s), 54 min(s), 37 sec(s) ago)
(RTTNews) - The Eurozone trade surplus declined to a 5-month low in April as the decline in export ...Full Story»

Germany's ZEW Economic Sentiment At 7-Month Low (12 hr(s), 06 min(s), 37 sec(s) ago)
(RTTNews) - Germany's economic confidence weakened sharply to a 7-month low in June, survey da ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Housing Starts Unexpectedly Drop From Upwardly Revised Level

06/18/2019 - 10:39 AM (RTTNews)
(RTTNews) - A report released by the Commerce Department on Tuesday showed new residential constru ...Full Story>>

ECB's Draghi Signals Further Rate Cuts Stoking Trump's Ire

06/18/2019 - 09:47 AM (RTTNews)
(RTTNews) - European Central Bank President Mario Draghi said on Tuesday that the central bank sti ...Full Story>>

U.S. Housing Starts Unexpectedly Slide 0.9% In May

06/18/2019 - 08:40 AM (RTTNews)
(RTTNews) - A report released by the Commerce Department on Tuesday showed new residential constru ...Full Story>>

Japan Govt Maintains Economic Assessment

06/18/2019 - 08:31 AM (RTTNews)
(RTTNews) - Japan's government maintained its economic assessment in June, the latest monthly ...Full Story>>

German Economic Sentiment Plunges On Trade Disputes, Weak Data

06/18/2019 - 08:05 AM (RTTNews)
(RTTNews) - Germany's economic confidence weakened sharply to a seven-month low in June on tra ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.