Turkey’s central bank left its benchmark interest rate unchanged, after two months of cuts, to assess whether curbs on lending are reducing consumer demand.
The bank in Ankara kept its one-week repo lending rate at a record low of 6.25 percent, according to an e-mailed statement today. Six of seven economists surveyed by Bloomberg this week had predicted no change. The bank will release minutes of the meeting within eight working days.
Governor Durmus Yilmaz unexpectedly lowered the rate in December and January, seeking to deter short-term capital inflows and weaken the lira. He said the easing would be more than offset by higher reserve requirements for banks that will slow lending. The central bank said its tracking the impact of the reserves increases, according to today’s statement.
No comments:
Post a Comment