Central Bank of the Republic of Turkey
July 23, 2015
Turkey’s Monetary Policy Committee again “decided to keep the interest rates at current levels.” Since being cut in February, the one-week repo rate has been at 7.5% and the overnight lending and borrowing rates have stood respectively at 10.75% and 7.25%. Previous peaks, reached after sharp hikes in January 2014 had been at 10.0%, 12.0% and 8.0%. A statement released by central bank officials today acknowledges lower food and energy prices but also observes that core inflation continues to elevate because of the weak lira and global uncertainties. Consumer prices rose 7.2% in the year to June.
Copyright 2015, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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