Encouraging move, but may not suffice
TURKEY
- Report
19 Nov 2020
by Murat Ucer
Broadly in line with the consensus forecast, including ours, the MPC/CBRT delivered a 475 bps hike of the policy rate (one-week repo) today, raising it to 15% (simple). Parenthetically, the O/N and LLW lending rates now stand at 16.5%, and 19.5%, respectively, by construction (see chart).
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