HIDDEN INTEREST RATE INCREASE

With the Central Bank, contrary to expectations, keeping the policy interest rate, being the one-week repo interest, unchanged at 8% at the year’s first meeting of the Monetary Policy Board, it increased the overnight borrowing rate by 75 base points to the level of 9.25. Following the decision, the dollar rose as far as TRY 3.8299 before closing the day at TRY 3.7630.