Central Banks
Turkey Hints Rate Cut Is Closer After Sixth Straight Hold
- Central bank drops explicit reference to tightening option
- Inflation well above target has made policymakers cautious
Fatih Karahan
Photographer: David Lombeida/BloombergThis article is for subscribers only.
Turkey’s central bank indicated it’s in no hurry to start cutting interest rates after leaving borrowing costs on hold for a sixth straight month, though suggested such a move is getting closer after dropping a reference to potential tightening.
The Monetary Policy Committee, led by Governor Fatih Karahan, kept the one-week repo rate at 50% on Thursday, a decision that was in line with the forecasts of all economists surveyed by Bloomberg.