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Turkey keeps rates unchanged
(MENAFN- Arab News) ANKARA: Turkey's central bank on Tuesday kept its main interest rates unchanged in a widely anticipated move two weeks after June 7 elections. The central bank is keeping a careful eye on inflation while also trying not to provoke President Recep Tayyip Erdogan who has called for aggressive rate cuts to boost growth.
The bank said in a statement after its latest monetary policy committee meeting that the one-week repurchase rate would be kept at 7.50 percent the marginal funding rate at 10.75 percent and the borrowing rate at 7.25 percent.
The bank said in its statement that it was carefully watching inflation due to recent pressure on the Turkish lira on currency markets.
The bank said in a statement after its latest monetary policy committee meeting that the one-week repurchase rate would be kept at 7.50 percent the marginal funding rate at 10.75 percent and the borrowing rate at 7.25 percent.
The bank said in its statement that it was carefully watching inflation due to recent pressure on the Turkish lira on currency markets.
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