{"id":25527,"date":"2011-11-23T11:52:00","date_gmt":"2011-11-23T16:52:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2011\/11\/23\/turkish-central-bank-holds-repo-rate-at-5-75\/"},"modified":"2011-11-23T11:52:00","modified_gmt":"2011-11-23T16:52:00","slug":"turkish-central-bank-holds-repo-rate-at-5-75","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/11\/23\/turkish-central-bank-holds-repo-rate-at-5-75\/","title":{"rendered":"Turkish Central Bank Holds Repo Rate at 5.75%"},"content":{"rendered":"

The\u00a0Central Bank of the Republic of Turkey<\/a>\u00a0held its benchmark 1-week repo rate at 5.75%. \u00a0The Bank said: "Recent data releases suggest that the rebalancing between the domestic and external demand is ongoing as envisaged. With the credit growth decelerating to more reasonable levels, the desired increase in private \u00a0savings has already started to take place. Accordingly, the improvement in the current \u00a0account balance is expected to become more significant in the final months of the year."
<\/span><\/span>
<\/a><\/a><\/a>The Turkish central bank last cut the\u00a0benchmark rate<\/a>\u00a0by 50 basis points when it held an emergency meeting in early August, the bank also cut its benchmark interest rate by 25 basis points to 6.25% in\u00a0January<\/a>\u00a0this year. \u00a0The Turkish central bank also adjusted\u00a0required reserves<\/a>\u00a0in late July. \u00a0Turkey reported annual consumer price inflation of 7.7% in October, compared to 6.7% in August, 6.3% in July, 6.2% in June, 7.2% in May, 4.26% in April, and 3.99% in March, and above the Bank's full year inflation target of 5.5%. \u00a0<\/span><\/span> <\/p>\n


<\/span><\/span><\/div>\n
The Turkish\u00a0Lira\u00a0(TRY) has weakened by about 19 percent against the USD so far this year, and last traded around 1.87 against the US dollar. \u00a0Turkey's central bank is scheduled to review monetary policy\u00a0settings\u00a0on the 22nd of December.<\/p>\n

www.CentralBankNews.info<\/a><\/span><\/span><\/div>\n

\"\"<\/div><\/p>\n","protected":false},"excerpt":{"rendered":"

The\u00a0Central Bank of the Republic of Turkey\u00a0held its benchmark 1-week repo rate at 5.75%. \u00a0The Bank said: "Recent data releases suggest that the rebalancing between the domestic and external demand is ongoing as envisaged. With the credit growth decelerating to more reasonable levels, the desired increase in private \u00a0savings has already started to take place. … <\/p>\n

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