CBRT keeps rates on hold in its January 2019 monetary policy decision
- To continue to use all available instruments in pursuit of price stability
- Risks on price stability continue to prevail
The central bank holds rates steady for a third straight meeting and the lira strengthens slightly on the back of the decision here with USD/TRY falling from 5.41 to 5.38-39 levels. Moving forward, expectation is for the central bank to err towards cutting rates as the lira tries to find its footing following the crisis suffered towards the latter stages of last year.
