Turkey’s Central Bank on Thursday kept its one-week repo rate – also known as the policy rate – steady at 10.25%.
BANK DECIDED TO INCREASE FLEXIBILITY IN LIQUIDITY MANAGEMENT
In a statement, the bank’s Monetary Policy Committee said it decided to increase flexibility in liquidity management as well as continue liquidity measures until significant improvement is achieved in the inflation outlook.
An Anadolu Agency survey last week found that a group of 17 economists expected a rise in the one-week repo rate ranging between 100 and 200 basis points.
Last year, in eight meetings, the bank cut the rate by a total of 1,200 basis points from 24%. After holding eight meetings last year, this year the bank boosted the number of MPC meetings to 12.