Forecasts about interest rate decision of Turkey’s Central Bank
It has been reported that experts expect the Central Bank of the Republic of Turkey (CBRT) to keep the weekly repo rate at 19.00, at the meeting to be held on Thursday, April 15th.
The interest rate decision which will be a decisive factor in the markets, is scheduled to be announced on Thursday. At the end of the first meeting which will be chaired by the new head of the central bank, Shahap Kavcioglu, the policy interest rate is expected to remain stable at 19 percent. Foreign institutions also do not expect a change in policy interest this month.
21 OUT OF 22 ECONOMISTS SAY RATE WILL NOT CHANGE
21 of the 22 economists surveyed, have predicted that interest rates will remain stable, while 1 economist has shared opinion that interest rates will rise by 100 basis points to 20.00 percent.
The median forecast of 12 economists for the year-end 2021 was at 15.50 per cent.
The lowest estimate for the year-end survey was 13.00 per cent and the highest estimate was 18.00 per cent. Last month’s survey had put the year-end interest rate at 14.25 per cent.
The CBRT had kept the interest rate at 17.00 per cent in January and February, as expected. Last month, despite expectations of a 100 basis point interest rate, the interest rate was raised to 19.00 corresponding to an increase of 200 basis points.
