Turkey keeps policy rate on hold, despite weakening lira
The monetary policy committee (MPC) of the Central Bank of the Republic of Turkey decided to keep its main policy rate on hold today (January 25), despite a falling currency and rising inflation.
The MPC kept Turkey's main monetary policy tool, the one-week repo rate, at 8%. It has raised the rate only once in the last year, hiking it by 50 basis points on November 24.
The MPC also held the borrowing rate at 7.25%. It did raise the marginal funding rate from 8.5% to 9.25%, along with the late
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