CBRT holds one-week repo rate steady at 24.00%
Latest monetary policy decision by the Turkish central bank - 25 October 2018
- Prior 24.00%
- Additional tightening is possible if needed
- Tight monetary policy stance to be maintained until inflation outlook improves
- Recent developments on inflation outlook point to significant risks to price stability
That is the expected outcome here and that will add some headwinds to the Turkish lira as we move into the year-end with December still not a sure thing for the central bank to add to the rate hike in September. USD/TRY jumped a little on the decision from 5.68 to 5.70 levels and is just settling below that currently.