Turkey's Central Bank Monetary Policy Committee to convene today

The Monetary Policy Committee are expected to rise the bank’s policy rate.

The decision will be the first under new governor Naci Ağbal, who was brought in to replace Murat Uysal on November 7.

Turkish central bank decided to keep its policy rate steady at 10.25 percent last month.

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)