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Turkey Leaves Interest Rates Unchanged

  • Decision predicted by all analysts in Bloomberg surveys
  • Central bank says additional tightening possible if needed
A pedestrian walks past retail stores in the Grand Bazaar in Istanbul.

A pedestrian walks past retail stores in the Grand Bazaar in Istanbul.

Photographer: Kostas Tsironis/Bloomberg
Updated on

Turkey’s central bank kept its main interest rates unchanged as expected on Thursday, citing the level of inflation as a reason for caution.

The one-week repo, overnight lending and late liquidity window rates remained at 8 percent, 9.25 percent and 12.25 percent respectively, while the overnight borrowing rate was maintained at 7.25 percent. All economists surveyed by Bloomberg forecast a hold.