Jul 18
Turkey: TCMB delivers expected rate hike
The Turkish central bank (TCMB) has announced that it has raised its key borrowing rate by 50bp to 16.75% - in line with our and consensus expectations. The TCMB has therefore delivered its third rate hike of 50bp in as many rate decision meetings, reversing most of its H2 2007 cutting. The TCMB has kept its key lending rate unchanged at 20.25% thus reducing the gap between the two key rates due to liquidity conditions.
