Striking interest rate forecast from Bloomberg hours before critical decision
According to economists participating in a Bloomberg survey, the Central Bank of the Republic of Turkey (CBRT) Monetary Policy Committee (MPC) will raise the policy rate from 42.5 percent to 45 percent. On the other hand, it is predicted that the CBRT will increase the interest rate for the last time.
The Central Bank of the Republic of Turkey (CBRT) will announce its first interest rate decision of 2024 today, in the shadow of discussions surrounding Governor Hafize Gaye Erkan.
The decision will be shared with the public at 14:00 following the Central Bank Monetary Policy Committee (MPC) meeting.
According to the initial survey conducted by Bloomberg regarding expectations for the interest rate decision, all economists predict that the policy rate will rise from 42.5 percent to 45 percent.
According to Bloomberg Economics, which points out that interest rates are approaching their peak, the CBRT may make more use of alternative tools such as short-term securities issuances or increasing reserve requirement ratios.
LAST INCREASE TO BE MADE
Economists believe that the interest rate will be increased for the last time today. It is anticipated that the committee is preparing to complete one of the longest monetary tightening cycles with one final hike.
Since Hafize Gaye Erkan took office in June, interest rates have been increased 7 times, rising to 5 times their original level.
News Source: 12punto
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