Turkey Holds Rates Again as Central Banker Bets Inflation Peaked
Cagan Koc, Bloomberg News BC-Turkey-Holds-Rates-Again-as-Central-Banker-Bets-Inflation-Peaked , Cagan Koc
(Bloomberg) Turkeyâs central bank kept its benchmark interest rate unchanged for a second meeting on Thursday after forecasting that inflation had reached its peak.
The Monetary Policy Committee left its key rate at 19% as forecast by all analysts in a Bloomberg survey. Inflation accelerated for a seventh month in April, spurred on by a weak lira and rising global energy prices. But new bank Governor Sahap Kavcioglu predicted the pace of price gains would start dropping to 12.2% by the end of 2021.
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(Bloomberg)
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Turkeyâs central bank is expected to leave its benchmark interest rate unchanged for a second meeting on Thursday after forecasting that inflation had reached its peak.
All 24 economists surveyed by Bloomberg predicted borrowing costs will be held at 19%. Turkish inflation accelerated for a seventh month in April, spurred on by a weak lira and rising global energy prices. But new bank Governor Sahap Kavcioglu predicted the pace of price gains would start dropping to 12.2% by the end of 2021.