Turkish Central Bank keeps interest rates steady

By Muhammed Ali Gurtas

ANKARA (AA) - The Turkish Central Bank on Tuesday announced it is keeping its one-week repo rate -- also known as the bank's policy rate -- constant at 17.75 percent.

The decision came in a statement from the bank's Monetary Policy Committee meeting.

Tuesday saw the bank's sixth meeting of this year. According to the bank's schedule, the next three meetings are to be held on Sept. 13, Oct. 25, and Dec. 13.

At its fifth meeting on June 7, the bank raised the policy rate by 1.25 percentage points from 16.50 percent.