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Economists expect Turkey interest rate cut

Turkish Central Bank projected to lower policy rate by 100 basis points, Anadolu Agency survey reveals

Turkey’s Central Bank (CBRT) is expected to cut interest rates this week, according to an Anadolu Agency survey on Tuesday.

On Thursday, the CBRT will hold its 11th Monetary Policy Committee meeting of the year to announce its decision on interest rates.

Last month, the bank lowered its one-week repo rate also known as the policy rate by 200 basis points to 16% from 18%.

Among 21 economists surveyed by Anadolu Agency, one expects a 25-basis-point decline, while other five predict the bank will cut the rate by 50 basis points, 13 by 100 basis points, and two by 150 basis points.

The median forecast by the economists was a decrease in the one-week repo rate of 100 base points, i.e. 1 percentage point.

Economists’ project for the year-end policy rate to be 15%.

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