Turkish Central Bank Surprises Markets

Today, Thursday, the Monetary Policy Committee of the Central Bank of Turkey decided to reduce the interest rate on the lira during the week (REPO) by 100 basis points, from 14% to 13% per annum. .

The decision was contrary to the expectations of analysts, who indicated that the Turkish Central Bank is likely to keep the interest rate at the current level.

The Turkish Central Bank has kept the interest rate unchanged since the beginning of this year despite the depreciation of the Turkish lira, the first decrease since the beginning of the current year 2022.

After the decision was made, the US currency rose by 0.75% to 18.0873 lira, according to the Bloomberg website, for comparison, the Turkish currency was trading at the end of January last year at 13.5 lira per dollar.

Source: RIA Novosti

Related Stories