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Thought January 21, 2021 / 04:42 pm UTC

Does The CBRT's January Pause Put In Question Its New Orthodoxy?

By Francesca Beausang
The Central Bank of the Republic of Turkey (CBRT) kept rates unchanged at 17% in January, in line with market expectations. While we were expect a hike on account of continuously accelerating inflation, the CBRT preferred to wait for the effect of its previous 675bps in hikes to sink in.