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Thursday, December 22, 2011

Turkish Central Bank Says It Plans to Keep Policy Tight on Inflation Risk - Bloomberg

Turkish Central Bank Says It Plans to Keep Policy Tight on Inflation Risk

By Steve Bryant - Dec 22, 2011 7:34 AM ET

Turkey’s central bank kept its benchmark interest rate unchanged for a fifth month and said it will keep bank borrowing costs high to restrain inflation and slow credit growth.

The central bank held the one-week repo rate at 5.75 percent today, according to a statement on the website of the Ankara-based institution. That matched the estimate of all 13 economists surveyed by Bloomberg. The bank will release minutes of the meeting within five working days.

More:Turkish Central Bank Says It Plans to Keep Policy Tight on Inflation Risk - Bloomberg