About: http://data.cimple.eu/news-article/c98eeba5759c43862c3b51c437ff9123635b5ddafd210b5f8f34068f     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

AttributesValues
rdf:type
schema:articleBody
  • Turkey's central bank on Thursday held its main interest rate at 19 percent while hinting that it may be lowered in the months to come. The bank removed a key reference from its monthly statement promising high rates to fight inflation "for an extended period". It said instead that "the current monetary policy stance will be maintained until the significant fall in (inflation expectations) is achieved". The Turkish lira remained unchanged at around 8.31 to the dollar after the announcement. Turkey's annual inflation rate has edged up to 17.1 percent and is expected to keep growing for some months to come. But President Recep Tayyip Erdogan subscribes to the unorthodox belief that high interest rates cause high inflation instead of slowing it down. He replaced a market-friendly central bank chief who raised rates sharply during his four-month term with party loyalist Sahap Kavcioglu in February. Kavcioglu has since promised to keep the central bank's policy rate above that of inflation -- signalling that it may be hiked should the inflation rate reach 19 percent. The central bank repeated that statement on Thursday. "High levels of inflation expectations continue to pose risks to the pricing behaviour and inflation outlook," it added. The lira has lost more than a tenth of its value since Kavcioglu's appointment due to what analysts view as a further erosion in investor trust of the bank's independence from Erdogan. "We suspect that the central bank will begin cutting rates to appease President Erdogan and take the one-week repo rate down to 14.00 percent by year-end," said Jason Tuvey of Capital Economics. "But we think this will be an environment in which the lira comes under pressure and inflation remains elevated, forcing policymakers to reverse course in 2022." zak/raz/rl
schema:headline
  • Turkey holds key rate at 19 percent
schema:mentions
schema:author
schema:datePublished
http://data.cimple...sPoliticalLeaning
http://data.cimple...logy#hasSentiment
http://data.cimple...readability_score
http://data.cimple...tology#hasEmotion
Faceted Search & Find service v1.16.123 as of May 22 2025


Alternative Linked Data Documents: ODE     Content Formats:   [cxml] [csv]     RDF   [text] [turtle] [ld+json] [rdf+json] [rdf+xml]     ODATA   [atom+xml] [odata+json]     Microdata   [microdata+json] [html]    About   
This material is Open Knowledge   W3C Semantic Web Technology [RDF Data]
OpenLink Virtuoso version 07.20.3241 as of May 22 2025, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 8 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2026 OpenLink Software