The central bank will announce its interest rate decision on Thursday.

SHAFAQNA TURKEY – The waiting for the decision of the Central Bank on the interest rate in July continues. The schedule of meetings of the Monetary Policy Committee of the Central Bank of the Republic of Turkey (CBRT) has been announced. According to this; The decision of the Central Bank on the interest rate for July will be announced on Thursday, July 20, 2023, at 14.00.

Economists polled by AA Finans regarding the Monetary Policy Committee (MPK) meeting of the Central Bank of Turkey (CBRT) expect the weekly repo rate (political rate) to be increased by 500 basis points to 20.00 percent.

Twenty economists took part in the AA Finans poll about the expectations of the meeting of the Monetary Policy Committee (MPC) of the Central Bank of the Russian Federation, which will be held on Thursday, July 20.

An increase of 250-650 basis points is expected.

The median of economists’ expectations of a change in the discount rate increased by 500 basis points.

According to the survey results, economists’ expectations for the discount rate ranged from 17.50 to 21.50 percent, and their expectations for the discount rate at the end of the year ranged from 25 to 50 percent.

The median of economists’ year-end interest rate expectations was 28.50 percent.

The decision of the June meeting of the Monetary Policy Committee of the Central Bank of the Republic of Turkey (CBRT) on interest rates was announced last month.

The Central Bank’s Monetary Policy Committee, which met for the first time under the chairmanship of new chairman Hafize Gaye Erkan, raised the discount rate to 15 percent for an increase of 650 basis points.