Turkish central bank to announce interest rate decision today
The Monetary Policy Committee of the Central Bank of the Republic of Turkey (CBRT) will meet Thursday to decide on the interest rate.
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The meeting will be chaired by Central Bank Governor Hafize Gaye Erkan.
The interest rate decision is expected to be announced at 2:00 PM local time.
The CBRT raised the policy rate to 17.5 percent in the previous meeting. Economists expect the bank to raise the policy rate by 250 basis points in today's meeting.
A higher interest rate is expected to help control inflation, which is currently running at over 70 percent. However, a higher interest rate could also slow economic growth.
The CBRT will have to balance the need to control inflation with the need to support economic growth.
The decision of the CBRT will be closely watched by markets and investors. (ILKHA)
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