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17-10-20
Turkish Central Bank increases interest rate
(MENAFN) Friday October 16th: A panel of 17 economists in the Turkish Central Bank, under the surveillance of Anadolu, is studying the expected idea of increasing interest rates. They believe there will be a rise, ranging between 100 and 200 basis points.
The study also portrayed that economists' average year-end interest rate expectancy is 12.25 percent, ranging from 11.75 percent to 15 percent.
Backing their predictions is the fact that the Central Bank raised its one-week repo rate - popularly known as the bank's policy rate - last month, by 200 basis points from 8.25 percent to 10.25 percent. Taking the market by surprise.
A Monetary Policy committee (MPC) meeting will be held this upcoming Thursday, October 22nd, where they will announce the decisions made by the bank.
MENAFN1710202000450000ID1100971464
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