Central Bank of the Republic of Turkey (CBRT) announced its latest monetary policy decision today at 12:00 pm BST. Meeting was originally scheduled for Thursday, July 25 but CBRT announced in late-June that it will be rescheduled two days earlier. Median expectations among economists surveyed by Bloomberg was for CBRT to keep rates unchanged at today's meeting, with one-week repo expected to stay at 50.00%. In fact, none of over 20 economists in Bloomberg poll expected Turkish central bank to change level of rates.
There was no surprise when it comes to rates - one-week repo rate was left unchanged at 50.00% for the fourth month in a row. CBRT keeps rates at elevated levels as it attempts to drain excess TRY liquidity from the markets. CBRT noted that the main inflation trend has weakened and that it continues to monitor liquidity conditions closely. However, CBRT also said that there should be a temporary increase in monthly inflation in July and that inflationary pressures remain alive.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
