Turkey Holds Rates Again, Pledges Measures to Mop Up Liquidity

-- Turkish central bank kept interest rates unchanged on Thursday and pledged additional measures to tackle excess liquidity caused by surging demand for local assets.The Monetary Policy Committee led by Governor Fatih Karahan left the benchmark at 50% for a second consecutive month, in line with all forecasts. The MPC repeated that its policy will remain tight “until a significant and sustained decline in the underlying trend of monthly inflation,” according to a statement.

Officials anticipate Turkey’s inflation, still among the world’s fastest, will start to slow from next month and end the year at 38%. The lira has appreciated about 0.5% against the dollar since then, with the central bank sharply improving its net reserves — excluding swaps with commercial lenders — as inflows picked up.

And although lira credit growth has decelerated and de-dollarization of bank deposits is taking hold, foreign-exchange lending is expanding at a faster clip. Living abroad is on the bucket list for millions of Americans, whether they want to experience a different culture or advance their careers. The expat life has numerous benefits -- which is why many...Toronto, Ontario-- - CISCOM Corp. , which actively invests in, acquires, and manages companies within the Information and Communication Technology sector, wishes to update its shareholders and stakeholders about recent developments regarding its share ownership and provide a business update.

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