Turkish MPC remained on hold once again yesterday as one-week repo rate, or so-called policy rate stood at 7.5%, along with overnight lending and borrowing rates at 10.75% and 7.25%. The central bank for sure will maintain the status quo until the end of Basci’s term in April.

“Tight monetary policy stance will be maintained” part of the guidance was also once again preserved. CBT lifted its average cost of funding recently which has been slightly above...