Market expectations have become clear ahead of the Central Bank of the Republic of Turkey's (CBRT) October interest rate decision. Economists participating in the AA Finance expectation survey for the Monetary Policy Committee (MPC) meeting anticipate a cut in the policy rate.
In the survey, which 20 economists participated in, 19 economists predicted that the policy rate would be lowered by 100 basis points. One economist shared an expectation of a 200 basis point cut.
According to the survey results, the median expectation of economists for the October MPC decision is for the policy rate to be reduced from 37 percent to 36 percent.
The CBRT's MPC meeting will be held on Thursday, October 22. The Central Bank did not change the policy rate at its September meeting, leaving it steady at the 37 percent level.
The median of the year-end policy rate expectations of the economists participating in the survey was recorded as 35 percent. This expectation indicates that a scenario of gradual interest rate cuts is being followed in the markets for the final quarter of the year.
News Source: 12punto
