Date: 9 months ago   Category: Finance

The Central Bank of Turkey has raised an interest rate to 24% — Rambler News Service


The bank of Turkey has raised an interest rate from 17,75% to 24% per annum, the press service of the regulator has reported. "The committee on monetary policy has made the decision to increase a rate from 17,75% to 24%" — it is said in the statement. According to data of the press service, in national economy the tendency to balancing is observed. Indicators of external demand remain, and domestic demand is slowed down more and stronger. In the regulator note increase of the risks connected with an inflation warming up. It can negatively affect the prices in the country. "Deterioration in price behavior still creates risks for inflation growth, despite weaker conditions of domestic demand. Respectively, the committee has decided to toughen strongly monetary policy for price stability maintenance" — have explained in the press service. Further the Bank of Turkey will use all available tools for achievement of this purpose. The situation can change in case of improvement of inflationary forecasts. The Central Bank of the country intends to control price behavior, fiscal policy and other factors. It is possible that monetary policy will become tougher again.

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