The Monetary Policy Committee of the Central Bank of the Republic of Turkey (CBRT) will announce its long-awaited interest rate decision today.
20 economists took part in the poll of expectations from the meeting. The median expectation of a change in the discount rate was 500 basis points.
According to the poll, economists’ expectations for the discount rate, which predicted a 250 to 650 basis point increase, ranged from 17.5 to 21.5 percent, and their expectations for the discount rate at the end of the year were from 25 to 50 percent.
The expected interest rate at the end of the year is 28.5 percent.
The median of economists’ year-end interest rate expectations was 28.5 percent.
Last month, the Monetary Policy Committee, which met for the first time under the chairmanship of Hafize Gaye Erkan, raised the discount rate to 15 percent for an increase of 650 basis points.
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