The Central Bank of the Republic of Turkey announced its April monetary policy committee decision.
CBRT kept interest rates at 8.5%. Interest rates were held steady at 8.5% last month.
Expectations were to keep the interest rate constant at 8.5%.
The statement of the CBRT regarding the latest interest rate decision is as follows:
"With the support of the holistic policies implemented, improvements in the level and trend of inflation began to be observed, but the effects of supply-demand imbalances caused by the earthquake on inflation are closely monitored. Supporting financial conditions has become even more important after the earthquake in terms of sustaining the acceleration in industrial production and the increasing trend in employment. In this framework, the Board decided to keep the policy rate constant.