Turkish central bank to announce interest rate decision tomorrow

This decision will follow a period of stability, as the CBRT has maintained its interest rate unchanged for the past three months.

The CBRT’s Monetary Policy Committee will convene under the leadership of Central Bank Governor Fatih Karahan. The announcement, which will be the sixth interest rate decision of the year, is scheduled for 14:00 local time following the committee’s meeting.

Economists widely expect that the policy rate, which was raised from 8.5 percent to 50 percent last year as part of a stringent monetary policy approach, will remain unchanged in this announcement. The median forecast for the year-end policy rate is set at 45 percent.

Originally slated for July 25, tomorrow's meeting was rescheduled to July 23 due to Governor Karahan's participation in international engagements. Additionally, the August meeting has been adjusted from August 22 to August 20 to accommodate the Governor's schedule.

Market participants and analysts will be closely watching the announcement for indications of future monetary policy directions and their potential impact on Turkey’s economic landscape. (ILKHA)