Turkish central bank holds rates despite rising inflation
New governor’s first meeting says Turkish economy faces risks “in both directions”
The monetary policy committee (MPC) of Turkey’s central bank held rates, in spite of rising inflation, in the first meeting since the country’s president dismissed the previous governor.
The seven-member MPC kept the key one-week repo rate at 19%, despite citing a number of inflationary pressures. But the committee said that, depending on the progress of Turkey’s vaccination programme and the Covid-19 pandemic, there were risks to economic activity “in both directions”.
Its meeting was chaired
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