Foreign economists expect cut in interest rates

Hurriyet Daily News | Dec 12, 2019 at 9:39 AM
  • Foreign economists on Dec. 11 projected the Turkish Central Bank would end the year with 150-200 basis points cut in its main policy rate.
  • The economists reminded that the policy rate was strongly reduced by 1000 bps in the Bank’s July, September and October meetings and thus they expect the bank could reduce its policy interest rate of 200-250 basis points to 11.50 to 12 percent.
  • At the previous meeting, the policy rate, the one-week repo auction interest rate, was cut from 16.50 percent to 14 percent with a 250 basis point reduction.