Central Bank to announce interest rate decision today: What are the economists' forecasts?

The Central Bank of the Republic of Turkey (CBRT) Monetary Policy Committee will meet today under the chairmanship of Central Bank Governor Hafize Gaye Erkan.

The interest rate decision will be announced on the same day at 14:00. In the MPC meeting held last month, the policy rate was increased by 500 basis points, rising from 25.00 percent to 30 percent.

INTEREST RATE HIKE EXPECTED

The Central Bank is expected to continue its interest rate hikes at this meeting as well. The focus will be on the messages provided in the decision text. Clues regarding simplification and tightening will be sought.

MPC EXPECTATION SURVEY CONCLUDED

The expectation survey for the CBRT's Monetary Policy Committee (MPC) meeting was concluded with the participation of 19 economists.

The median of the economists' expectations regarding the change in the policy rate was a 500 basis point increase. According to the survey results, the policy rate expectations of economists, who foresee an increase between 250 and 500 basis points, ranged between 32.50 percent and 35.00 percent.

The median of the economists' year-end policy rate expectations was 40.00 percent.