Turkey’s Central Bank plans to cut interest volumes by 150 basis units

(MENAFN) Turkey’s Central Bank is anticipated to reduce interest rates by 150 basis points to 48.5 percent next week, according to a survey conducted by Anadolu on Friday.

If the rate cut occurs, it will be the first such move since January 2023, nearly two years ago.

The Central Bank’s final monetary policy committee meeting of the year is scheduled for next Thursday, where the decision on interest rates will be announced.

Out of 14 economists surveyed, ten predicted a rate decrease, with expectations ranging from 47.50 percent to 50 percent, while four economists forecast no change.

The average expectation for the policy rate by the end of 2025 was 29.5 percent.

At the previous meeting last month, the policy rate remained unchanged at 50 percent.

From May 2023 to March 2024, the bank raised the interest rate from 8.5 percent to 50 percent, and the rate has been held steady at 50 percent in the last eight meetings.

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