Economists and market watchers are closely observing the meeting as they expect a significant increase in the policy rate. The projections range from 250 to 650 basis points, reflecting the seriousness of the current economic challenges facing the country.

In its previous meeting held on June 22, 2023, the CBRT had raised the policy rate to 15 percent, driven by growing concerns over surging inflation, which had reached a staggering 24-year high.

The interest rate decision announcement is slated for 14:00 after the conclusion of the meeting. Investors and businesses alike are eagerly awaiting the outcome as they seek measures to address the impact of soaring inflation on the economy.

The decision by the Central Bank will carry significant implications for Türkiye's economic landscape, making it a topic of great interest and importance among financial circles and market participants. (ILKHA)