Turkish Central Bank Keeps Rate on Hold

The Central Bank on Thursday announced its Monetary Policy Committee (MPC) had decided to keep short-term interest rates constant.

The bank said in a statement that the one-week repo rate, also known as the bank’s policy rate, was maintained at 8 percent.

The marginal funding and overnight borrowing rates were also steady at 9.25 and 7.25 percent, respectively.

The bank also kept late liquidity window interest rates unchanged — the borrowing rate at 0 percent, and the lending rate at 12.25 percent.

Thursday’s MPC meeting is the first of eight meetings scheduled for the year. According to the bank’s program, the next meetings will be held on March 7, Apr. 25, June 7, July 24, Sept. 13, Oct. 25, and Dec. 13.

via Yenisafak

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza