Turkey cuts for first time since March’s political turmoil
CBRT reduces rates by 300bp to 43% and vows to maintain “tight” policy stance
Turkey’s central bank today (July 24) reduced the benchmark one-week repurchase auction rate by 300 basis points to 43% – its first cut since March, when an episode of political unrest caused turmoil in the country’s financial markets.
In a statement, the Central Bank of the Republic of Turkey (CBRT) said: “The tight monetary policy stance, which will be maintained until price stability is achieved, will support the disinflation process.”
The bank also reduced its overnight lending rate and
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com test test test
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com test test test
More on Monetary policy decisions
Czech Republic, Moldova and Norway hold rates
CNB says services inflation is still high, Moldova is recovering and Norway says it is in no hurry
Brazil holds policy at 15% for third time in a row
BCB continues to signal hawkishness despite calls from finance minister to cut rates
Poland cuts rates, while Albania and Sweden hold
Riksbank warns of US stock market bubble
RBA holds policy as inflation rises
Australian central bank’s inflation forecast assumes one further rate cut in easing cycle
ECB holds rates for third consecutive time
Lagarde celebrates ‘fading risks’ to eurozone growth thanks to trade deals and Gaza ceasefire
Japan holds rates, as expected, with two dissenting votes
BoJ governor says there is no ‘preset idea’ on future rate rises after dissenters call for 25bp hike
Bank of Canada makes modest rate cut
Economists disagree over wisdom of decision at time of above-target inflation and soft labour markets
BoK holds policy at 2.5% and signals room for further cuts
Rhee Chang Yong says four of six board members open to cutting to 2.25% over next three months