Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Turkey's central bank shied away from hiking its main interest rates Tuesday despite a tumbling lira and rising inflation, bowing to what many investors see as pressure from a government bent on maintaining growth ahead of elections.It has avoided the outright rate hikes virulently opposed by Prime Minister Recep Tayyip Erdogan.The bank kept its main policy rate, the one-week repo rate, at 4.50 percent, its borrowing rate at 3.50 percent and its overnight lending rate at 7.75 percent.Five out of 15 economists in a Reuters poll had expected the bank to make any move on the lending rate Tuesday.But a separate Reuters poll of 24 economists last week forecast that the bank will have to increase its overnight lending rate by a full percentage point to 8.75 percent by the end of March to shore up the lira.
FOLLOW THIS ARTICLE