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Turkish Central Bank Hikes One Week Repo Rate By 500Bps At 50.00% (Expected Unchanged)
Turkish Central Bank Hikes One Week Repo Rate By 500Bps At 50.00% (Expected Unchanged)
— LiveSquawk (@LiveSquawk) March 21, 2024
Added at 7:12am
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Press Release on Interest Rates (2024-14)
The Monetary Policy Committee (the Committee) has decided to raise the policy rate (the one-week repo auction rate) from 45 percent to 50 percent. The Committee has also decided to adjust the monetary policy operational framework by setting the Central Bank overnight borrowing and lending rates 300 basis points below and above the one-week repo auction rate, respectively. In February, led by services inflation, the underlying trend of monthly inflation was higher than expected. While imports of consumption goods and gold slowed down and contributed to the improvement in the current account balance, other recent ... (full story)