Turkey: The CBRT Opts a Wait and-See Mode

Summary

The Central Bank (CBRT) maintained the entire set of its monetary policy rates constant at the following levels; O/N lending rate at 8.5%, one-week repo rate at 8.0%, and O/N borrowing rate at 7.25%. Turkish lira was sold-off slightly by 0.3% following the decision as the markets had already priced in a 25bps hike in the lending rates.

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