Turkey rate decision: lifts overnight rate to 12% from 7.75
From forexlive.com
The Turkish decision has implications both for the lira and for other emerging markets. The overnight level was 7.75% This is a HUGE jump, expectations were only for a 2 – 3% hike - overnight lending rate to 12 from 7.75% one week repo to 10% vs. 4.5% - The Turkish central bank said it decided to implement strong tightening for price stability and to simplify operational framework Says to maintain tight monetary policy until clear improvement in inflation outlook Sees inflation at 5% in mid 2015 due to this stance - AUD and NZD both higher after the announcement (as is the Turkish lira, too) – the market taking this ...
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