The Central Bank of the Republic of Turkey spooked markets today (April 25) despite holding rates, as it appeared to take the possibility of a future rate hike off the table.
The CBRT held its policy rate at 24%, as was widely expected. But it cut a phrase from its statement raising the prospect of additional rate hikes. In March, it had said: “If needed, further monetary tightening will be delivered”.
“The committee has decided to maintain the tight monetary policy stance until inflation