June 15, 2017 / 11:05 AM / 6 months ago

Turkey's central bank leaves key interest rates on hold

ISTANBUL, June 15 (Reuters) - Turkey’s central bank kept its main interest rates steady on Thursday, in line with market expectations, as it continues to battle against double-digit inflation.

In its second policy-setting meeting since voters narrowly backed an April 16 referendum to change the constitution and hand President Tayyip Erdogan sweeping new powers, the central bank kept its late liquidity window at 12.25 percent.

It left its benchmark repo rate on hold at 8 percent.

All 16 economists polled by Reuters had predicted the bank would leave the repo rate unchanged, as well as the overnight lending rate, at 9.25 percent, and the overnight borrowing rate, at 7.25 percent. Those rates were also unchanged.

The central bank has repeatedly refrained from lifting the repo rate, causing some concern among investors about its independence in the face of criticism from Erdogan, who has declared himself an “enemy” of interest rates. (Writing by Daren Butler; Editing by David Dolan and Toby Chopra)

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