Turkish CB to leave interest rate at 8.25: Survey

Economists expect the monetary policy commitee to leave benchmark interest rate unchanged on Wednesday

Economists expect the monetary policy commitee to leave benchmark interest rate unchanged on Wednesday

ISTANBUL – The Central Bank of Turkey is expected to leave its benchmark interest rates on hold for another month, said a panel of economists surveyed by The Anadolu Agency on Monday.

Of the 17 economists who participated in the survey, 16 forecasted that the Central Bank would keep the benchmark interest rate untouched – at 8.25 percent - for another month in their next meeting on Wednesday.

Only one economist predicted a 25 basis-point cut, i.e. minus 0.25 percent, of the benchmark interest rate.

In its last monetary meeting in November, the Central Bank of Turkey decided to hold the benchmark interest rate at 8.25 percent, short-term borrowing from the Central Bank at 10.75 percent and the overnight borrowing rate at 7.5 percent.

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