The Central Bank of the Republic of Turkey raised its benchmark interest to 17.00 % while the markets expected increase to 16.50%. after the country's consumer price inflation surged to 14% in November, its highest since August 2019 and well above the 3%-7% target. Policymakers noticed that uncertainties surrounding the global economic activity prevail due to a recent increase in Covid-19 cases, despite vaccine rollout. The central bank added that tightness of monetary policy stance will be decisively sustained until strong indicators point to a permanent fall in inflation in line with the targets and to price stability.
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Create account Try a demo Download mobile app Download mobile appUSDTRY broke below the 7.60 level after today's CBRT interest rate decision and is heading towards the next support level at 7.50. Source: xStation5 .
