Turkish central bank again holds rates despite rising prices

central-bank-of-the-republic-of-turkey-2
The Central Bank of the Republic of Turkey
CBRT

The Turkish central bank’s monetary policy committee again voted to keep its policy rates on hold despite a continuing rise in inflation.

The seven-member MPC decided to hold the one-week repo rate at 19% today (May 6), as it did at its last meeting on April 15. The last governor of the Central Bank of the Republic of Turkey was dismissed by president Recep Tayyip Erdoğan shortly after the MPC raised rates by 200 basis points.

The MPC said in a statement there were “high levels of inflation

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