Turkey Central Bank Holds Rate at 6.25%

The Central Bank of the Republic of Turkey held its key policy rate, the 1-week repo rate, at 6.25%. The Bank also held the borrowing rate unchanged at 1.50%, lending rate at 9.00% and the interest rate on borrowing facilities provided for primary dealers via repo transactions at 8.00%. The Bank raised the required reserve ratio for banks by 300 basis points to 15% from 12%. Turkey reported inflation of 4.16% in February, down from 4.9% in January; the Bank expects inflation to sit at about 5% in the medium term.

www.CentralBankNews.info