Turkish Central Bank keeps interest rate stable

The Turkish Central Bank on April 14 kept its main interest rate unchanged for a fourth month, News.az reports citing Daily Sabah.

In a statement following a Monetary Policy Committee meeting, the bank said it was keeping its policy rate “constant” at 14 percent.

The bank pointed out that rising energy costs resulting from geopolitical developments, temporary effects of pricing formation and strong negative supply shocks have pushed the inflation upward.

“The Committee expects disinflation process to start on the back of measures taken and decisively pursued for sustainable price and financial stability along with the decline in inflation owing to the base effect and the resolution of the ongoing regional conflict. Accordingly, the Committee has decided to keep the policy rate unchanged,” it said in a statement.

Turkey’s annual consumer inflation hit a 20-year high in March at 61.1 percent.

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