Turkey cuts benchmark rate to 36% as underlying inflation slows
トルコ中銀、政策金利を36%に引き下げ 基調的な物価上昇は鈍化経済・金融
- Country:
- 🇹🇷 Turkey
- Voice:
- 🇬🇧 Oliver
英語本文
Turkey's central bank cut its benchmark one-week repo auction rate from 37% to 36% on October 22. Its monetary policy committee also lowered the overnight lending rate from 40% to 39% and the overnight borrowing rate from 35.5% to 34.5%. The bank said recent data and leading indicators confirmed a slowing underlying inflation trend, despite monthly fluctuations.
The committee said domestic demand remained weak, citing activity data and the limited effect of supply shocks on domestic prices. However, elevated energy prices linked to continuing geopolitical tensions remained an upward risk to the inflation outlook. The bank said it would maintain tight monetary policy until price stability was achieved. Its medium-term inflation target is 5%.
Future policy changes will be considered cautiously at each meeting, with their size and timing guided by the inflation outlook. The committee also said it would tighten policy if that outlook deteriorated significantly and persistently.