Turquía mantiene tasas sin cambio

Patrick Signoret

El banco central de Turquía dejó su tasa de política monetaria sin cambio en 5.75%, sin dar indicios claros de sus intenciones para la próxima decisión, pero sugiriendo que está preparado para implementar más restricción monetaria.

En el comunicado mencionó que está llevando a cabo una ronda de restricción monetaria y podría restringir aún más:

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.

Por restricción monetaria, el banco central no se refiere a cambios en las tasas de interés, que han estado constantes. Bloomberg explica a qué medidas se refiere:

The central bank also reduced the amount of liras it lends in regular repo actions, and increased the amount of lira reserves that banks are allowed to hold in gold.

…

Başçı said last week that the central bank will maintain a policy of “controlled tightening,” and halted repo auctions at the benchmark rate. The measure pushed funding costs for banks to 9.25 percent from about 7.5 percent a month earlier, according to Finansbank’s estimates.

Sin embargo, el Banco parece dejar claro que no tiene ningún sesgo y está listo para actuar en ambos sentidos:

Given the prevailing uncertainties regarding the global economy, it would be appropriate to preserve the flexibility of the monetary policy. Therefore, the impact of the measures undertaken on credit, domestic demand, and inflation expectations will be monitored closely and the funding amount will be adjusted in either direction, as needed.

El Banco Central de la República de Turquía ha dejado su tasa principal en 5.75% desde agosto del año pasado: