Turkey's Central Bank keeps policy rate unchanged

Policy rate, also known as one-week repo rate, remains same at 8 percent; lending rate rises 0.75 percent points

By Muhammed Ali Gurtas

ANKARA (AA) - The Central Bank of the Republic of Turkey on Wednesday announced its Monetary Policy Committee decision about short-term interest rates.

The bank's policy rate -- the one-week repo rate -- was held at 8 percent, the CBRT said in a statement.

The committee also kept the marginal funding and overnight borrowing rates constant at 9.25 and 7.25 percent, respectively.

According to the bank's statement, the late liquidity window interest rates -- between 4 p.m. and 5 p.m. -- was changed, as borrowing rate was kept at 0 percent while lending rate was increased from 12.75 percent to 13.50 percent.

Wednesday's Monetary Policy Committee meeting is the third of eight meetings scheduled for the year. At the first meeting on Jan. 18 and the second meeting on March 7, the Central Bank kept the interest rates unchanged.

According to the bank's program, the next Monetary Policy Committee meetings will be held on June 7, July 24, Sept. 13, Oct. 25, and Dec. 13.

Kaynak:

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