Turkish Central Bank’s MPC meets today, rates expected to be kept unchanged.

By bne IntelliNews May 22, 2014

The Central Bank’s Monetary Policy Committee (MPC) will convey on Thursday to review interest rates.

The MPC is expected to keep interest rates unchanged, a Reuters poll of economists showed. All but two economists in predicted that the bank would keep its one-week repo rate unchanged at 10% while one economist forecast a 25 basis points cut and another predicted a 50 basis points cut, Reuters said.

At its last meeting on April 24, the MPC decided to keep rates on hold. The bank left its one-week repo rate unchanged at 10%, overnight lending rate at 12%, and its overnight borrowing rate at 8%. The Committee highlighted the upside risks on the inflation outlook and said that the strong and frontloaded monetary tightening delivered at the January interim meeting had contained the adverse impact of such risks on the medium term inflation expectations.

The Bank’s governor Erdem Basci has repeatedly said that Bank will keep monetary policy tight until there is a significant improvement in the inflation outlook.

Related Articles

Erdogan, Putin discuss deepening strategic relationship

Turkish President Recep Tayyip Erdogan and Russian leader Vladimir Putin on May 27 confirmed in a telephone call “the aspiration for further development of the strategic partnership,” the Kremlin ... more

Ankara bans all "protests" after dark, includes press events and group singing

Ankara has banned all "acts of protest" after dark. The wide-ranging ban, announced on May 26, even forbids press events, group singing and the shouting of slogans in public places after ... more

Richest Turkish families sell conglomerate shares for more than €500mn

Members of families that own Turkey’s two biggest groups of companies sold stakes in their respective groups for a combined sum of more than €500mn as the benchmark Turkish stock exchange index ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Dismiss