Turkish Central Bank keeps interest rates unchanged

Turkish Central Bank left the overnight borrowing rate at 1.5 percent and lending rate at 9 percent.

The Bank's Monetary Policy Board convened in Ankara on Wednesday under the chairmanship of Governor Erdem Basci.

In a statement released regarding today's meeting, the Central Bank said that they decided to keep the interest rates same.

The Board has noted that, due to base effect in the prices of unprocessed food items, inflation rate at the end of May may exceed the expected annual inflation rate of 5.5 percent, the statement said.


/Trend/