Turkey Central Bank Set To Hold Keep Rates On Hold
Turkey's central bank said Tuesday that interest rates may require to be held at current levels for a whilekept at low levels for a long time.
In the summary of the minutes of its July rate-setting meeting, the bank said core inflation indicators continue to stay in line with medium-term targets.
The bank's monetary policy committee members point that domestic demand maintains its strong position although downward risks to overseas demand become clear, it also added.
At its monetary policy meeting July 15, the central bank left its key overnight borrowing rate at 6.5%its overnight lending rate at 9%, in line with general market expectations. It also left its benchmark rate, the interest rate for daily one-week repurchase agreement auctions, unchanged at 7%.
(SB-SB-ENG)
