Turkey: Economists expect no change in interest rates

Majority of economists forecast no change in one-week repo rate this week, standing at 24%

By Erhan Cihan Unal

ISTANBUL (AA) - The Central Bank of Turkey (CBRT) is expected to keep interest rates steady this week, according to an Anadolu Agency survey on Monday.

On Wednesday, the Monetary Policy Committee (MPC) meeting will be held for the fourth time in 2019 to announce the bank's decision about interest rates.

Among 20 economists surveyed by Anadolu Agency, four economists expect a decline in interest rates, varying between 0.50 percentage points and 1.50 percentage points.

In April, the CBRT kept its one-week repo rate -- also known as the bank's policy rate -- constant at 24%.

Including Wednesday’s meeting, the bank will hold five more MPC meetings this year.

In 2018, the CBRT held nine MPC meetings, as interest rates climbed from 8% to 24% over the course of the year.

*Writing and contributions by Muhammed Ali Gurtas in Ankara

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