The Committee on the Monetary Policy of the Central Bank of Turkey decided to leave the accounting rate for the weekly auction of the repo – at the level of 50 percent.
According to the Central Bank of Turkey, the decision was made during the meeting, which was held on Tuesday, on July 23, chaired by Yashar Fatikha Karakhan.
The regulator noted a significant weakening of the basic trend of monthly inflation in June. In July, the Committee expects temporary acceleration of inflation under the influence of largely non -humorous factors, but this growth, according to the forecast, will be limited in nature.
The latest data confirm that, although internal demand remains at the dull -fractional level, it continues to slow down, the Central Bank of Turkey notes.
In addition to the high level of services of services, inflationary expectations, geopolitical risks and food prices support inflationary pressure, the text says.
The committee carefully monitors the conformity of inflationary expectations and price behavior to forecasts, as well as the influence of tightening monetary loan policy and domestic demand, follows from the message.
“taking into account the delayed effects of tightening monetary policy, the regulator decided to maintain the rate without changes, but confirmed that it still attentive to the risks of inflation. A tough monetary policy will be preserved until a significant and a steady decrease in basic monthly inflation, and inflationary expectations will not come close to the predictable range, ”the Central Bank noted.