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MNI CBRT WATCH: Rates Held, Sticky Services Inflation Cited

The Central Bank of the Republic of Turkey holds rates at 50%.

MNI (LONDON) - The Central Bank of the Republic of Turkey announced on Tuesday it is keeping its one-week repo auction rate unchanged at 50%, in line with market expectations, commenting on the decision that sticky services inflation, high inflation expectations, and geopolitical developments continue to feed price risks.

“The tight monetary stance will be maintained until a significant and sustained decline in the underlying trend of monthly inflation is observed, and inflation expectations converge to the projected forecast range,” the Monetary Policy Committee said, adding that the “monetary policy stance will be tightened in case a significant and persistent deterioration in inflation is foreseen.”

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MNI (LONDON) - The Central Bank of the Republic of Turkey announced on Tuesday it is keeping its one-week repo auction rate unchanged at 50%, in line with market expectations, commenting on the decision that sticky services inflation, high inflation expectations, and geopolitical developments continue to feed price risks.

“The tight monetary stance will be maintained until a significant and sustained decline in the underlying trend of monthly inflation is observed, and inflation expectations converge to the projected forecast range,” the Monetary Policy Committee said, adding that the “monetary policy stance will be tightened in case a significant and persistent deterioration in inflation is foreseen.”

Keep reading...Show less