Turkish Central Bank Keeps Rates Same to Fight Inflation
By Emre Peker - Mar 27, 2012 7:55 AM ET
Turkey’s central bank kept its interest-rate corridor unchanged after a reduction in the top rate last month caused the lira to plunge.
The Ankara-based lender left the benchmark one-week repo rate, the floor of the corridor, at 5.75 percent, matching all 11 forecasts in a Bloomberg survey. The maximum rate on overnight loans was also unchanged at 11.5 percent, the bank said on its website today, in line with predictions by five of six economists.
More:Turkish Central Bank Keeps Rates Same to Fight Inflation - Bloomberg
