Central Bank Of Turkey Maintains Policy, Repo Rate At 5.75%Callum Thomasupdated Mar 27, 2012TweetAt GET.com we maintain complete editorial integrity on our content & provide transparent & unbiased information. Companies don't pay us to include their products although we receive a compensation when you successfully apply to products from our partners. See how we make money here.At GET.com we maintain complete editorial integrity.The Central Bank of the Republic of Turkey kept its benchmark 1-week repo rate unchanged at 5.75%. The Bank also held the lending rate at 11.50% and the interest rate on borrowing facilities for primary dealers at 11.00%, and lending rate on late liquidity at 14.50%. The Bank said: "Inflation developments are in line with the path projected in the January Inflation Report. Yet, the Central Bank has implemented a new round of additional monetary tightening in order to eliminate the impact of recent cost developments on inflation expectations. Factors affecting inflation will be closely monitored in the forthcoming period and additional monetary tightening will be repeated, when necessary."The Turkish central bank last cut the benchmark rate by 50 basis points when it held an emergency meeting in early August, the bank also cut its benchmark interest rate by 25 basis points to 6.25% in January last year. The Turkish central bank also adjusted required reserves in late July. Turkey reported annual consumer price inflation of 10.45% in December, up from 7.7% in October, 6.7% in August, 6.3% in July, 6.2% in June, 7.2% in May, 4.26% in April, and 3.99% in March, and above the Bank's full year inflation target of 5.5%. Turkey's economy grew 1.7% in Q3 (1.2% in Q2), placing the Turkish economy up 8.2% on an annual basis (8.8% in Q2). The Turkish Lira (TRY) has weakened by about 15 percent against the USD over the past year, and last traded around 1.79 against the US dollar.Editorial Disclosure: Any personal views and opinions expressed by the author in this article are the author's own and do not necessarily reflect the viewpoint of GET.com. The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities.