Turkiye’s Central Bank keeps interest rate unchanged

Turkiye’s Central Bank has decided to keep the discount rate at 14%, Report informs referring to Turkish media.

“The Monetary Policy Committee has decided to leave the rate at weekly repo auctions at 14%,” the regulator said.

The Central Bank this year keeps the rate unchanged, and the lira is gradually weakening: if at the end of January, the exchange rate was about 13.5 liras per US dollar, at the end of February it was already 14 liras, and now it has exceeded 17 liras. Inflation in annual terms, according to the country’s Institute of Statistics, accelerated in May to 73.5%.