central turkey bank kept interest rates unchanged at 14% for a second Encounter on Thusday, in line with the market expectations.
The 22 economists previously polled by Bloomberg expected the Central Bank of The Republic of Turkey (CBRT) will keep the benchmark one- rest week rate unchanged.
Economists interviewed by AA Finance also predicts that the policy rate would like remain at 14%. The median of economists year-to finish policy rate expectations were 14%.
The lender in 2021 followed a period of aggressive rate cuts with a total of 500 basis points since September but interrupted the easing cycle in January.
In the midst of a great loss in national monetary value, central value bank at also introduces incentives for a savings plan protected by the Turkish lira to stabilize the currency
Selva Bahar Baziki, Economist for Turkey and Sweden for Bloomberg Economy who told Bloomberg they weren’t expecting a rate hike, said, “We expect to see the CBRT put a higher addiction on alternative policy instruments, such as the reserve requirements and discount credits for export sectors, such as main policy tool remains unchanged.”
Treasury and Finance Minister Nureddin Nebati meanwhile predicted that inflation, which is currently put high pressure on households, will gradually slow down this year.