Turkish Central Bank keeps policy rate unchanged at 37 percent
As widely expected, Türkiye’s Central Bank has decided to keep its key interest rates unchanged, extending its monetary policy pause for a fourth consecutive meeting.
At its fifth meeting of the year chaired by Governor Fatih Karahan, Monetary Policy Committee (MPC) on July 23, held the policy rate, the one-week repo auction rate, constant at 37 percent.
It also maintained the overnight lending rate and the overnight borrowing rate at 40 percent and 35.5 percent, respectively.
In an accompanying statement, the committee reiterated that the tight monetary policy stance, which will be maintained until price stability is achieved, will strengthen the disinflation process through demand, exchange rate, and expectation channels.
