CBRT announces interest rate decision! Increased by 250 basis points to 45 percent

In recent days, the family of CBRT Governor Hafize Gaye Erkan had occupied the Turkish agenda for a long time.

Following her long-standing contacts in the US, Erkan attended the welcoming ceremony for Iranian President Raisi at the Palace yesterday for the first time and did not shake Raisi's hand.

The CBRT announced its interest rate decision following the first MPC meeting held in the shadow of the Erkan Family.

Accordingly, it has been raised by 250 basis points to 45 percent.

THEY HAD DRAWN ATTENTION TO MONETARY TIGHTENING

In November, the statement was made that, "The level of monetary tightness has been significantly approached, therefore the pace of tightening will be slowed down."

STATEMENT FROM THE CBRT

The following statements were included in the bank's decision text:

"Taking into account the lagged effects of monetary tightening, it has been assessed that the level of monetary tightness required to establish disinflation has been reached and that this level will be maintained as long as necessary."

News Source: 12punto