Central Bank of the Republic of Turkey announced its latest monetary policy decision at 12:00 pm BST today. CBRT was expected to keep rates unchanged, with the one-week repo rate staying at 50.00%. However, the Bank was also expected to hold rates unchanged at the previous meeting, but instead surprised with a 500 basis point rate hike, so nothing could be ruled out before today's decision.
This time there was no surprise with CBRT leaving rates unchanged, in-line with market expectations. Nevertheless, central bank said that inflationary pressures remain. However, CBRT said that it expects disinflation is expected in the second half of the year.
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Open real account TRY DEMO Download mobile app Download mobile appAs the decision was in-line with expectations, no major market reaction could be spotted afterward. Turkish lira ticked lower, although the scale of the move was very small.
Source: xStation5
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