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Turkey's central bank holds key rates

The central bank of Turkey left its policy rates unchanged for the tenth consecutive monetary meeting in November.

The Türkiye Cumhuriyet Merkez Bankasi AS decided to keep the marginal funding rate at 9.25%, the borrowing rate at 7.25% and the one-week repo rate at 8%.

"Tight stance in monetary policy will be maintained decisively until inflation outlook displays a significant improvement and becomes consistent with the targets," the central bank said.

An economic adviser to President Recep Tayyip Erdogan had said Nov. 23 that the country's central bank could increase interest rates at any time if inflation expectations deteriorate.