BREAKING: TRY ticks lower after in-line CBRT rate decision

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.

As 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