Following its monetary policy meeting, the Turkish Central Bank (CBRT) has announced that it hiked the one-week repo rate to 17.75% from 16.5%. In its statement, the banks reiterated that additional tightening measures could be taken if needed and added that all tools could be used in line with its mandate of price stability.
The bank hasn’t published any additional info on other interest rates. With the initial reaction to the announcement, the USD/TRY pair lost around 2% to drop all the way down to 4.45 area.
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