Turkey keeps rates unchanged on high inflation
Central bank says tight stance will remain until prices approach 5% target
The Turkish economy will continue to endure tight financial conditions as long as inflation does not significantly fall, the Central Bank of the Republic of Turkey said on September 14.
The monetary policy committee left the key one-week repo rate at 8%. “Current elevated levels of inflation and developments in core inflation indicators pose risks on the pricing behaviour,” the committee said. Inflation rose to 10.68% in August from 9.79% in July. The inflation target is 5%.
Turkey suffered a
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