The bank, which was raised the one-week repo rate — the rate by which it lends to commercial banks — by 200 basis points to 19 percent last month, is not expected to change interest rates.

The Monetary Policy Committee (MPC) is the decision-making body for monetary policy under the inflation targeting regime.

The MPC is made up of the Governor, Deputy Governors, a member appointed from among the members of the Board, and another member appointed by a joint decree upon recommendation of the Governor.

The Undersecretary of Treasury or a Deputy Undersecretary authorized by the Undersecretary can attend the meetings without voting capacity. (ILKHA)