Bank of Turkey

Turkish Monetary Policy Tightened Further in Anti-Inflationary Move

August 20, 2013

The overnight central bank lending rate, which was boosted 75 basis points in July, has been raised by a further 50 bps to 7.75% in an action that caught analysts by surprise.  In a statement of explanation, officials cited dangers posed by above-target inflation and financial market volatility (i.e. lira depreciation) and left the door […] More