Turkish Central Bank hikes one-week repo rate to 17.75% from 16.5%
|Following its monetary policy meeting, the Turkish Central Bank (CBRT) has announced that it hiked the one-week repo rate to 17.75% from 16.5%. In its statement, the banks reiterated that additional tightening measures could be taken if needed and added that all tools could be used in line with its mandate of price stability.
The bank hasn't published any additional info on other interest rates. With the initial reaction to the announcement, the USD/TRY pair lost around 2% to drop all the way down to 4.45 area.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.