Turkish central bank keeps interest policy rate unchanged at 8.5 pct

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Turkish central bank keeps interest policy rate unchanged at 8.5 pct

STORY: Turkish central bank keeps interest policy rate unchanged at 8.5 pct DATELINE: May 26, 2023 LENGTH: 00:00:52 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of Turkish flag and Turkish central bank 2. various of Turkish lira 3. various of Turkish central bank 4. various of Turkish lira 5. various of Turkish people at cashpoints STORYLINE: Türkiye's central bank decided to keep its interest rate unchanged at 8.5 percent on Thursday before the upcoming runoff presidential elections. The bank said in a statement that it had decided to keep the policy rate unchanged in order to "preserve the growth momentum in industrial production and the positive trend in employment after the earthquake." It added that the current monetary policy stance was "adequate to support the necessary recovery in the aftermath of the earthquake by maintaining price stability and financial stability." The bank's decision is likely to disappoint many economists, who had expected it to raise rates in order to c

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