Turkish central bank holds rates steady
It’s the bank’s first decision since the hawkish former governor was fired, which sparked a market sell-off
15 April 2021 - 18:35
Istanbul — Turkey’s central bank held rates steady at 19%, as expected, on Thursday and dropped a pledge to tighten policy further if needed, in its first decision since President Recep Tayyip Erdoğan fired the hawkish former governor and sparked a market sell-off.
In a statement, the bank also ditched March’s pledge to “decisively” maintain a tight monetary policy “for an extended period” to address inflation, which has risen above 16% and been in double-digits for most of the past four years...
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