Turkey Central Bank leaves benchmark rate unchanged at 8%

As widely expected, the Central Bank of the Republic of Turkey (CBRT) kept its key benchmark interest rate steady at 8% at its monetary policy meeting held today.

USD/TRY faded a knee-jerk spike to 3.8039 on the bank’s policy announcement, now reverting to the pre-decision levels near 3.7990, down -0.52% on the day.