Turkish central bank holds main rate despite high inflation
Committee says it expects inflation trend to reverse soon, as headline figure nears 50%
The Central Bank of the Republic of Turkey (CBRT) kept its policy rate unchanged today (February 17), despite headline inflation close to 50%.
The monetary policy committee said inflation had been driven by “pricing formations that are not supported by economic fundamentals”, as well as global supply constraints and strong demand.
However, it said it expected a “disinflation process” to begin soon, which it attributed to its recent policy actions and “base effects”, as strong price rises from
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