ISTANBUL
Economists, surveyed by Anadolu Agency on Monday, predicted that the Central Bank of Turkey (CBRT) will further reduce interest rates.
The Monetary Policy Committee (MPC) will hold a meeting on Thursday for the seventh time this year to determine the bank’s decision on interest rates.
A group of 14 economists expect an average drop of 100 basis points in one-week repo rate — the lowest estimate at 50 basis points and the highest at 200.
In the previous meeting, the MPC decided to cut interest rates by 325 basis points from 19.75% to 16.50%.
After Thursday’s meeting, the bank will hold one more committee meeting this year.
In 2018, the CBRT held nine MPC meetings as interest rates climbed from 8% to 24% over the course of the year.
*Writing and contributions by Gokhan Ergocun.
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