MPC Leaves Rates Unchanged

TURKEY - Report 24 Apr 2014 by Murat Ucer
The Monetary Policy Committee did the right thing today -- and also the brave thing, given that political pressures on the Bank to undertake a sizeable rate cut have been intensifying -- by not moving any of the key interest rates, i.e. the O/N corridor (8%-12%) and the weekly repo (10%) rates (see graph). The MPC reduced the O/N late liquidity rate to 13.5% from 15%, but the move is largely symbolic. As far as the language is concerned, the Bank understandably sounds relatively relieved, thanks to the “recent decline in uncertainties and partial improvement in the risk premium indicators” ...

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This report is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This report is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this report or its contents.