Survey: Turkish Central Bank to keep interest rates steady

ISTANBUL

The Turkish Central Bank is expected to keep interest rates unchanged at 14%, according to a panel of economists surveyed by Anadolu Agency on Friday.

Next Thursday, the bank will hold its first Monetary Policy Committee (MPC) meeting this year to announce its latest decision on interest rates.

A group of 23 economists surveyed by Anadolu Agency projected the average year-end interest rate to be at 12%.

According to its schedule, the bank will hold 12 MPC meetings this year.

At its last meeting on Dec. 16, the Central Bank cut its benchmark one-week repo rate by 100 basis points from 15% to 14% in line with market expectations, meaning that since September 2021 the authority has lowered the key rate by 500 basis points.