Turkey Central Bank Keeps Rate On Hold

(RTTNews) - Turkey's central bank retained its key interest rate, as widely expected, for the fourth straight meeting on Wednesday.

The Monetary Policy Committee of the Central Bank of the Republic of Turkey governed by Sahap Kavcioglu, decided to hold the key one-week repo rate at 19.00 percent.

The bank had lifted the interest rates by 200 basis points at the March meeting under the leadership of former governor Naci Agbal.

The bank repeatedly said that taking into account the high levels of inflation and inflation expectations, the current tight monetary policy stance will be maintained decisively until the significant fall in the April Inflation Report's forecast path is achieved.

The central bank reiterated that it will continue to use decisively all available instruments in pursuit of the primary objective of price stability.
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