Central Bank to announce interest rate decision: What are the economists' expectations?
The Central Bank of the Republic of Turkey will announce its policy rate today. In the previous Monetary Policy Committee meeting, the Central Bank kept the policy rate steady at 50 percent. Expectations are for the Central Bank to keep the rate unchanged. So, what did economists say ahead of the decision? Here are the details...
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The Central Bank of the Republic of Turkey (TCMB) Monetary Policy Committee will meet today at 14:00 under the chairmanship of Central Bank Governor Fatih Karahan.
The bank, which has been implementing a tight monetary policy since June of last year, last raised the policy rate in March.
In April and May, the policy rate was kept unchanged.
WHAT DO ECONOMISTS EXPECT?
The median value of economists' expectations regarding the change in the policy rate is for the rate to be kept steady at 50 percent. All of the economists surveyed predict that the policy rate will be held at 50 percent.
The median of economists' year-end policy rate expectations was calculated at 50 percent.
Among the economists who shared their year-end expectations, 3 predicted that the policy rate would be 50 percent at the end of the year, 1 predicted 47.5 percent, 1 predicted 45 percent, 1 predicted 44 percent, and 2 predicted 40 percent.
According to the TCMB's survey of market participants, the expectation for the current month and 3 months ahead is 50 percent. The policy rate expectation for 12 months ahead fell from 37.11 percent to 35.90 percent.