The Central Bank of the Republic of Turkey (CBRT) has announced its first interest rate decision of the year. In line with expectations, the CBRT has raised the policy rate to 45 percent, and in the decision statement, it conveyed the message that the necessary level of monetary tightness has been reached for the establishment of disinflation and will be maintained for as long as needed.
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| The Central Bank of the Republic of Turkey |
In its first meeting of the year, the CBRT, by increasing the policy rate as anticipated, indicated that the steps towards monetary tightening have concluded.
The Central Bank of the Republic of Turkey (CBRT) raised the policy rate to 45 percent.
Economists participating in the Bloomberg HT survey had expected a 250 basis point increase in the policy rate, bringing it to 45 percent.
The decision statement from the CBRT emphasized guidance on the monetary policy path. It stated that the required level of tightness for the establishment of disinflation has been reached and that this tightness will be maintained as long as necessary.
Source: Bloomberg HT