The Central Bank of the Republic of Turkey (CBRT) left its benchmark interest rate, the one-week repo rate, unchanged at 14.00% on Thursday. In the statement, the central bank reiterated that it will continue to use all available instruments in a decisive manner within the framework of the “liralization” strategy until the indicators point to a permanent fall in inflation. The Turkish lira was not affected by the announcement. The USD/TRY pair remains at the 17.35 zone.
“The level of capacity utilization and other leading indicators show that the strong growth from the beginning of the year also continues in the second quarter,” the CBRT said. He warned that risks continue due to the balance of the current account due to energy prices.
The central bank stated that it is ready “to take additional macroprudential policy measures when necessary”.
Source: Fx Street
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