Turkey raises rates to 16.25%

The Central Bank of Turkey added 50 basis points to the cost of borrowing on Monday in its first policy vote since abandoning its 4% inflation target.

The central bank's Monetary Policy Committee raised the benchmark overnight borrowing rate to 16.25% and its overnight lending rate from 19.75% to 20.25%. Supply and demand conditions were, it said, "largely in line with the predictions of the April Inflation Report", which estimated annual inflation for 2008 would be between 4.1% and 6.9%.

The

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: