Turkish central bank keeps rates unchanged on inflation outlook

Turkey's Central Bank headquarters in Ankara. (File photo: Reuters)

Turkey's central bank left its key interest rates unchanged on Thursday, saying monetary policy would remain tight until there is a significant improvement in the inflation outlook.

The bank left its one-week repo rate at 8.25 percent, its overnight lending rate unchanged at 11.25 percent, its primary dealers' overnight borrowing rate at 10.75 percent and its overnight borrowing rate at 7.50 percent.

All 15 economists polled by Reuters forecast the central bank would leave its main one-week repo rate at 8.25 percent. One predicted a 25-basis-point cut in the overnight lending rate.

Turkey is struggling to control inflation even as its economy slows and conflict intensifies in neighbouring countries.

Last Update: Wednesday, 20 May 2020 KSA 09:45 - GMT 06:45