Turkiye's central bank leaves key rate unchanged

The Central Bank of Turkiye decided to keep the discount rate at 14%, following a meeting of the Monetary Policy Committee on Thursday, Report informs, citing Anadolu.

"The Monetary Policy Committee has decided to leave the rate at weekly repo auctions at 14%," the bank said in a statement.

The regulator believes that the number of factors stimulating Turkiye's economic growth is increasing. Tourism is also an important impetus for development.

The regulator keeps the rate unchanged, and the lira is gradually weakening. While at the end of January, the exchange rate was about 13.5 liras per dollar, at the end of February, it was already 14 lira, and now it has exceeded 17 liras. As for inflation, according to the country's Institute of Statistics, in May, it accelerated to 73.5% in annual terms.