March 6, 2019 / 11:12 AM / 6 months ago

Turkey's central bank says will tighten further if needed

ISTANBUL, March 6 (Reuters) - Turkey’s central bank will tighten monetary policy further if needed, it said on Wednesday, as it kept its benchmark interest rate steady following a further decline in inflation.

“The Committee has decided to maintain the tight monetary policy stance until the inflation outlook displays a significant improvement,” it said in a statement.

“If needed, further monetary tightening will be delivered.”

The lira weakened nearly 30 percent against the dollar last year, having rebounded partially as strains in relations with the United States eased and after the central bank raised rates by 6.25 percentage points in September.

Last month, the central bank decided to lower lira reserve requirements, triggering concerns that it may augur an easing in monetary policy. (Reporting by Ezgi Erkoyun and Ali Kucukgocmen Writing by Daren Butler Editing by Dominic Evans)

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