Turkish central bank keeps interest rates on hold

ISTANBUL Tue Jan 21, 2014 7:02am EST

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ISTANBUL Jan 21 (Reuters) - Turkey's central bank shied away from hiking interest rates on Tuesday despite rising inflation and a falling lira, in a bid to support economic growth ahead of elections this year.

The bank kept its main policy rate, the one-week repo rate, at 4.50 percent, its borrowing rate at 3.50 percent and its overnight lending rate at 7.75 percent, it said in a statement after its monthly monetary policy committee meeting.

It also left the primary dealers' overnight borrowing rate from the central bank unchanged at 6.75 percent.

Only five out of 15 economists in a Reuters poll expected the bank to make any move on the lending rate in its first monetary policy meeting of the year. (Reporting by Seda Sezer; Editing by Nick Tattersall)

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