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Published on Thursday, June 15, 2017

Turkey | The CBRT Keeps the Hawkish Tone

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Summary

The Central Bank (CBRT) kept the entire set of its interest rate corridor unchanged. The Bank also preserved the hawkish tone by over looking the expected disinflationary impacts of the fall in energy prices and partial correction in food prices. We expect the Bank to keep the average funding rate close to 12% until the next monetary policy meeting in July.