The Central Bank of the Republic of Turkey Will Hold a Monetary Policy Committee Meeting Today! Markets across Turkey are focused on this meeting. The decisions announced at the end of the Central Bank and Monetary Policy Committee meeting, scheduled for today, will be highly significant. Markets have turned their full attention to the meeting, which begins at 14:00 today. All financial markets in Turkey are watching closely. Some economists, offering forecasts, expect the Central Bank to implement an interest rate cut.
On the other hand, other economists participating in surveys indicate they do not expect an interest rate reduction at the Monetary Policy Committee meeting convening today, January 16, 2020, at 14:00.
What Are the Interest Rate Expectations for the Central Bank and Monetary Policy Committee Meeting?
What are the interest rate expectations for the Central Bank and Monetary Policy Committee meeting? According to a group of 12 economists, no change is expected in the policy rate (the one-week repo auction rate). Meanwhile, 9 economists forecast an interest rate cut in the range of 25 to 100 basis points.
Detailed economist projections break down as follows: five economists expect a 100-basis-point cut, two expect 75 basis points, one expects a 50-basis-point cut, and another expects a 25-basis-point reduction. At the Monetary Policy Committee meeting held on December 12, 2019, the policy rate was cut by 200 basis points, bringing the rate down to 12.00%.