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

The Monetary Policy Committee (MPC) of the Central Bank of the Republic of Turkey (TCMB) will meet today under the chairmanship of Fatih Karahan.

Following the critical meeting, the interest rate decision, which the markets are eagerly awaiting, will be announced at 14:00.

In the meeting held in January, the one-week repo auction rate, which is the policy rate, was reduced from 38 percent to 37 percent.

With the same decision, the overnight lending rate was lowered from 41 percent to 40 percent, while the overnight borrowing rate was reduced from 36.5 percent to 35.5 percent.

MPC EXPECTATION SURVEY RELEASED

The results of the expectation survey regarding the Monetary Policy Committee (MPC) meeting to be held by the Central Bank of the Republic of Turkey today have been announced. 38 economists participated in the survey.

The majority of the participating economists do not expect any change in the policy rate. According to the survey, 37 out of 38 economists predict that the interest rate will be kept at its current level, while only 1 economist estimated that a 50 basis point cut could be made.

The median of the economists' expectations regarding the March MPC decision was also that the policy rate would be kept constant at the 37 percent level.

On the other hand, the median of the policy rate expectations of the economists participating in the survey for the end of the year was calculated as 30 percent.

News Source: 12punto