Breaking News… Central Bank announces interest rate decision

The Central Bank of the Republic of Turkey has raised the interest rate to 30 percent. Following the meeting of the Central Bank’s Monetary Policy Committee (MPC), it was announced that the weekly benchmark repo rate has been increased by 500 basis points.

According to the statement made after the MPC meeting, the weekly repo rate has been raised from 25.00 percent to 30.00 percent.

After Hafize Gaye Erkan took office as the president, a total of 1650 basis points of interest rate increases have been made in three meetings.

The Central Bank’s next meeting will be held on October 26th.