Turkey’s central bank on Thursday kept its one-week repo rate — also known as the policy rate — steady at 14%, in line with market forecasts, Report informs, citing the country’s Central Bank.

At its last meeting on December 16, the central bank cut its benchmark one-week repo rate by 100 basis points from 15% to 14% in line with market expectations, meaning that since September 2021 the key rate had been lowered by 500 basis points.