Turkish Central Bank to announce interest rate decision on July 20th

After a substantial rise in the previous meeting, where the policy rate was raised by 650 basis points, reaching 15 percent, all eyes are now on the committee's upcoming announcement.

Under the leadership of CBRT Governor Hafize Gaye Erkan, the Monetary Policy Committee will convene to deliberate on the country's monetary policy.

The highly-anticipated interest rate decision will be disclosed to the public following the meeting, with the announcement expected to take place at 14:00 local time.

During the previous gathering, the Central Bank had opted to significantly increase the policy rate, responding to various economic factors and aiming to address rising inflation and ensure stability in the financial markets.

Economists closely monitoring the situation anticipate a gradual increase in the policy rate as the Central Bank continues to evaluate the economic landscape and make decisions based on the country's financial indicators.

The upcoming interest rate decision holds considerable importance for Türkiye's economic outlook and will shape the direction of monetary policy in the coming months. Market participants and stakeholders will be keenly observing the outcome of the meeting, as it will provide valuable insights into the Central Bank's strategy to maintain stability and address inflationary pressures. (ILKHA)