MPC Does the Expected, More to Come

TURKEY - Report 20 Apr 2016 by Murat Ucer

The Monetary Policy Committee (MPC) held its first meeting today under the chairmanship of the new Governor, Mr. Murat Cetinkaya, opting for a 50 bps cut of the O/N lending rate to 10% (simple), in line with expectations of the majority of analysts, including us. The other two rates – O/N borrowing and weekly-repo – were left unchanged (Graph 1).

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