Opting for backdoor measures, Turkey’s Central Bank holds interest rate steady
Turkey’s Central Bank left a key interest rate unchanged in favor of liquidity measures Thursday in what analysts described as a “missed opportunity” to send a positive signal to the markets.
ISTANBUL — Turkey’s Central Bank avoided raising a key interest rate Thursday, opting to impose backdoor liquidity measures to support the nation’s troubled currency.
The bank’s monetary policy committee announced it would hold its one-week repo rate steady at 8.25%, where it has remained since May 21 amid inflationary pressures on the Turkish economy.
