[size=36]Central Bank keeps interest at 24%[/size]
The Central Bank of Turkey (CBK) on Wednesday kept the interest rate at 24 percent on repo for a week.
"The recent data shows a continuing balance in the Turkish economy," the central bank said in a statement released after a meeting of the Monetary Policy Committee of the Central Bank of Turkey in Ankara.
"External demand has maintained relative strength, along with a slowdown in economic activity due to the tightening of financial conditions," he said.
The Turkish central bank expected continued improvement in the balance of the current account, stressing support for developments in domestic demand and the effects of monetary tightening on the decline in inflation rate in the country.
The central bank decided to maintain the "tight financial position in order to accelerate the decline in inflation and reduce the risks related to the behavior of pricing."
"He will continue to use all the tools available to him to stabilize prices," he said