Turkey: CBRT leaves policy rate unchanged at 8.25%

The Central Bank of the Republic of Turkey (CBRT) announced on Thursday that it left its policy (one-week repo) rate unchanged at 8.25%.

Key takeaways from the policy statement (via Reuters)

"Demand-driven disinflationary effects will become more prevalent in the second half of the year."

"Policy rate left unchanged considering all factors affecting the inflation outlook."

"Monetary stance will be determined by considering the indicators of the underlying inflation trend to ensure the continuation of the disinflation process."

Market reaction

The USD/TRY pair came under modest pressure on this announcement and was last seen losing 0.1% on the day at 6.8410.