Turkey's Central Bank Monetary Policy Committee to convene Thursday

The bank reduced the policy rate (one-week repo auction rate) from 18.00 percent to 16.00 last month.

The central bank is expected to cut its policy rate by 100 basis points to 15%.

The Monetary Policy Committee will announce the policy decision at 2 p.m. on Thursday.

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)