MPC leaves rates unchanged, as expected

TURKEY - In Brief 16 Jan 2019 by Murat Ucer

In line with the consensus, the CBRT’s Monetary Policy Committee (MPC) kept the policy rate (one-week repo rate) at 24% (simple) today. Recall that this is the third consecutive meeting that the Bank left rates unchanged, since it had raised the policy rate by 625 bps on September 13th (see chart).Today’s statement is exactly the same with the previous statement, having also kept the “relatively” hawkish reference to inflation outlook – that despite some improvement in inflation dynamics, risks to price stability prevail, and hence, the tight monetary policy stance is to be maintained “unti...

Now read on...

Register to sample a report

Register