Central Bank of the Republic of Turkey
October 26, 2017
Turkey’s 9.25% marginal funding rate, 7.25% overnight borrowing rate, and 8.0% one-week repo rate were all left unchanged. The last change made in any of these rates was a 75-basis point hike in the marginal funding rate in January of 2017. The Monetary Policy Committee released a statement today defending the decision not to relax its “tight” policy stance and proclaiming a determination to maintain the stance until the inflation outlook improves significantly and becomes consistent with the Bank’s target. “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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