All eyes in the economy turn to October 23

All eyes in the markets have turned to the interest rate decision of the Central Bank of the Republic of Turkey (TCMB) to be announced on Thursday, October 23. Especially after September inflation data came in above expectations, economists expect the TCMB to implement an interest rate cut. The interest rate decision is expected to have significant effects on the markets.

100 BASIS POINT CUT EXPECTED

According to the results of the survey conducted by AA Finans, economists anticipate that the Central Bank will cut the policy rate by 100 basis points to 39.50 percent. In the Monetary Policy Committee (PPK) expectations survey, in which 22 economists participated, interest rate forecasts ranged between 39 percent and 40.50 percent.

YEAR-END INTEREST RATE EXPECTATION IS 37.5 PERCENT

According to assessments made for the end of the year, the median expectation of economists is that the policy rate will decline to the 37.5 percent level. At the PPK meeting held last month, the Central Bank had cut the interest rate by 250 basis points to 40.50 percent.

DECISION TO BE ANNOUNCED AT 14.00

The Central Bank's October interest rate decision will be announced on Thursday, October 23, at 14.00. Following the decision, its effects on foreign exchange rates, gold prices, and the stock market are expected to become clear.

News Source: 12punto