Turkey's Central Bank on Thursday kept its one-week repo rate -- also known as the policy rate -- steady at 19%, for a third month after raising it by 200 basis points in March.
After the sixth Monetary Policy Committee meeting this year, the bank said in a statement that "high levels of inflation expectations continue to pose risks to the pricing behavior and inflation outlook."
On the other hand, it added that it is monitoring the decelerating impact of monetary tightening on credit and domestic demand.
Taking this into account, it said its current tight monetary policy stance will be maintained decisively until the significant fall in inflation forecast in its April Inflation Report is achieved.
The bank "will continue to use decisively all available instruments in pursuit of the primary objective of price stability," it added.
"The policy rate will continue to be determined at a level above inflation to maintain a strong disinflationary effect until strong indicators point to a permanent fall in inflation," it said.
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