Central Bank announces highly anticipated September interest rate decision: Held steady at 50 percent

The Central Bank has kept the interest rate steady at 50 percent this month, just as it did last month.

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Central Bank announces highly anticipated September interest rate decision: Held steady at 50 percent

The Central Bank of the Republic of Turkey (TCMB) has once again made no move on its policy rate.

The Central Bank did not make any changes to the interest rate, keeping it steady at 50.00%.

As a result of the tightening process that has been ongoing since June following last year's general elections, the TCMB had raised its policy rate by 4,150 basis points, with the last increase occurring in March.

After peaking at an annual rate of 75.45% in May, inflation began to decline due to the policy shift and the contribution of the base effect, coming in at 51.97% in August.

The last time the TCMB lowered the interest rate was in November 2022.

News Source: 12punto