Turkish Central Bank holds key interest rate at 24 pct

Turkish Central Bank holds key interest rate at 24 pct

ANKARA – Anadolu Agency
Turkish Central Bank holds key interest rate at 24 pct

The Turkish Central Bank on Dec. 13 kept its the one-week repo rate - also known as the bank's policy rate - constant at 24 percent.

"Recently released data show that the rebalancing trend in the economy has become more noticeable," the bank said in a statement from its Monetary Policy Committee meeting.

Price increases have shown a generalized pattern across sub-sectors, reflecting the movements in exchange rates, it added.

The committee meeting is the last of eight meetings scheduled for 2018.

At its last meeting, on Oct. 25, the bank also kept interest rates unchanged, after hiking its policy rate by 625 base points, up from 17.75 percent to 24 percent, on Sept. 13.

Turkish Central Bank, interest rate, Monetary Policy Committee