Turkish central bank again holds rates despite rising prices
CBRT says it will hold policy rate at 19% until it sees significant fall in inflationary pressures
The Turkish central bank’s monetary policy committee again voted to keep its policy rates on hold despite a continuing rise in inflation.
The seven-member MPC decided to hold the one-week repo rate at 19% today (May 6), as it did at its last meeting on April 15. The last governor of the Central Bank of the Republic of Turkey was dismissed by president Recep Tayyip Erdoğan shortly after the MPC raised rates by 200 basis points.
The MPC said in a statement there were “high levels of inflation
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary Policy
Colombia cuts rates by 50bp in split decision
Recent constitutional reform bill could hurt fiscal sustainability, says central bank
Savings dampen monetary policy effectiveness – Fed paper
Central banks should track excess saving at a high frequency, authors recommend
Policy tightening reduces labour productivity and presence – paper
Lower participation and labour supply have inflationary effects, Bank of Canada authors find
ECB paper finds asymmetric spillover from US monetary policy
Tightening episodes affect emerging markets more than expansionary episodes do, say researchers
Armenia cuts interest rate to 7.25%
Economic activity softens in third quarter
Monetary policy and reserves management in an era of uncertainty
Panellists at the Central Banking Summer Meetings with experience of ‘polycrises’ discussed reserves management strategies to prepare for and respond to financially turbulent times.
Mamo Mihretu on the radical reform of central banking in Ethiopia
NBE head speaks about monetary policy and exchange rate reform, opening the financial system and a fundamental reset of the economy
IMF panellists debate need for updated policy frameworks
Policy frameworks should be informed by pandemic lessons, say central bankers