Turkish Central Bank Keeps Corridor, Drops Dollar Auctions
By Steve Bryant - Jan 24, 2012 8:25 AM ET
Turkey’s central bank held unchanged the interest-rate corridor it’s using to support the lira, and said it will halt regular auctions of dollars.
The bank held the one-week repo rate, the floor of the corridor, at 5.75 percent, as expected by all 11 economists surveyed by Bloomberg. It also kept the ceiling at 12.5 percent. The Ankara-based bank announced the decision on its website today and will release minutes of the monetary policy committee’s meeting within five working days.
More:Turkish Central Bank Keeps Corridor, Drops Dollar Auctions - Bloomberg