The Central Bank of Turkey (CBRT) announced its September interest rate decision. During today’s meeting, the bank kept the policy rate unchanged at 50%.
The Monetary Policy Committee (MPC) of the Central Bank of Turkey (CBRT) revealed its decision, maintaining the policy interest rate at 50%. This decision aligned with market expectations that the rate would remain steady.
Since the general elections last year, the CBRT has raised the policy rate by a total of 4,150 basis points, with the most recent hike occurring in March, as part of a tightening policy supported by the president since June.
This marks the sixth time the CBRT has held the policy rate at 50%, in line with forecasts. While the central bank has moved away from its emphasis on “additional tightening,” it stated that “if a significant and lasting deterioration in inflation is anticipated, monetary policy tools will be used effectively.”
However, unlike the previous decision statement, the September announcement did not include the phrase “if a significant and lasting deterioration in inflation is anticipated, the monetary policy stance will be tightened.”
