Economy

Turkey's Central Bank holds policy rate constant

Policy rate, also known as one-week repo rate, remains same at 24 pct

13.12.2018
Turkey's Central Bank holds policy rate constant

By Tuba Sahin

ANKARA

The Turkish Central Bank on Thursday kept its the one-week repo rate -- also known as the bank's policy rate -- constant at 24 percent.

"Recently released data show that the rebalancing trend in the economy has become more noticeable," the bank said in a statement from its Monetary Policy Committee meeting.

Price increases have shown a generalized pattern across sub-sectors, reflecting the movements in exchange rates, it added.

Thursday's committee meeting is the last of eight meetings scheduled for 2018.

At its last meeting, on Oct. 25, the bank also kept interest rates unchanged, after hiking its policy rate by 625 base points, up from 17.75 percent to 24 percent, on Sept. 13.

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