Central Bank of the Republic of Turkey

September 14, 2017

At this month’s review of Turkish monetary policy, no changes were made in the structure of interest rates. A tight stance is in place because of elevated total and core inflation. The one week repo rate has been at 8.0% since a 50-basis point increase last November. The marginal funding rate has been 9.25% since a 75-bp rise last January, and the borrowing rate of 7.25% was last changed in February 2015. A statement released today declares a “tight stance in monetary policy will be maintained until inflation outlook displays a significant improvement. Inflation expectations, pricing behavior and other factors affecting inflation will be closely monitored and, if needed, further monetary tightening will be delivered.”

Copyright 2017, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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