The Central Bank of the Republic of Turkey (CBRT) announced on Thursday that it kept its monetary policy rate (one-week repo) unchanged at 19% as expected. The Turkish lira was not affected and the USD / TRY remained in the zone of highs in ten days above 8.60, supported by a global dollar rally.
The central bank stated that the current position of a Tightening monetary policy will be decisively maintained until a significant drop in the path of inflation forecast in the April report is achieved. “The rate is still set at a level above inflation to maintain a strong disinflationary effect,” the central bank noted.
The monetary authority declared that it will use “decisively all available instruments.” He added that a decelerating impact due to monetary tightening on credit and domestic demand.
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