Central Bank of Turkey retained rate at level of 50% per annum

Turkish Central Bank left a key interest rate (stake on seven -day repo operations), at the level of 50% per annum.

This is stated in the regulator’s message.

The decision was made at a meeting chaired by the Chairman of the Central Bank Yashar Fatikha Karakhan.

“taking into account the delayed consequences of toughening the monetary policy, the committee of monetary policy (Central Bank – Ed.) decided to leave the discount rate unchanged,” the message said.

At the same time, it is emphasized that the Central Bank still carefully monitors inflation risks.

The Central Bank announced additional steps to maintain macrofinance stability and support the monetary transmission mechanism through the development of credit growth and deposits.