Turkey Monetary Policy


Central Bank remains on hold

At its 29 May meeting, the Central Bank of the Republic of Turkey (CBRT) left the one-week policy rate unchanged at 5.75%, as was expected by the market. The Central Bank also held the overnight borrowing rate steady at 5.00%, and left the overnight lending rate at 11.50% (11.00% for primary dealers). The Bank reiterated that the rebalancing process between external and domestic demand continues and therefore the current account balance is expected to continue to improve. Regarding price developments, the CBRT explained that despite a recent drop, inflation is expected to remain


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Note: 1-week repo rate in %, from 25 May 2010 onwards. From January 2008 until 25 May 2010, data refer to overnight borrowing rate.
Source: Central Bank of the Republic of Turkey (CBRT).

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