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Published on Thursday, May 24, 2018 | Updated on Thursday, May 24, 2018

Turkey´s 300bps hike: The later, the tighter

Summary

The CBRT decided yesterday to raise the “de facto” policy interest rate (Late Liquidity Window) by 300bps to 16.5% to correct the significant depreciation of the Turkish Lira, also with other reasons including the huge deviation of inflation from the target and expectations, financial stability motives and rapid loss of credibility during the last two weeks.

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Policy-Pulse_Monetary-Policy_May2018

English - May 24, 2018

Authors

SG
Seda Guler Mert BBVA Research - Chief Economist
AI
Adem Ileri BBVA Research - Principal Economist
SK
Serkan Kocabas
AO
Alvaro Ortiz BBVA Research - Head of Analysis with Big Data
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