Turkey’s central bank held its main interest rates steady this morning, in line with expectations.
The Monetary Policy Committee (MPC) kept the one-week repo rate at +8%. It held the overnight lending rate at +9.25% and held the overnight borrowing rate at +7.25%.
Note: Policy makers also kept the late-liquidity lending rate at +12.25% – the surcharge premium charged to domestic banks to borrow.
“The central bank will continue to use all available instruments in pursuit of the price stability objective. Tight stance in monetary policy will be maintained until inflation outlook displays a significant improvement,” the central bank said in a statement.
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Dean Popplewell
He has a deep understanding of market fundamentals and the impact of global events on capital markets.
He is respected among professional traders for his skilled analysis and career history as global head
of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean
has played an instrumental role in driving awareness of the forex market as an emerging asset class
for retail investors, as well as providing expert counsel to a number of internal teams on how to best
serve clients and industry stakeholders.
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