(MENAFN) The Turkish central bank kept interest rates on hold and said it would keep monetary policy tight until the inflation outlook improves significantly, hinting that no cuts until next year, The Peninsula Qatar reported.
The central bank left its one-week repot rate to 8.25 percent, as forecasted by 15 of 16 economists polled by Reuters. One economist had expected a cut in the main rate to 7.75 percent.
Businesses and economists now forecast that consumer-price inflation to hit 9.22 percent by year-end, surging from its previous poll and well enough above its target rate of 5.3 percent.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.