Central Bank to meet this week for rate decision

ISTANBUL

The Monetary Policy Committee of the Turkish Central Bank will convene on July 21 to review the interest rates.

This will mark the committee’s seventh rate-decision meeting this year.

Analysts expect the Central Bank to keep its policy rate - the one-week repo rate - unchanged at 14 percent this week.

The monetary authority delivered its last interest rate change in December 2021, when it cut the policy rate by 100 basis points from 15 percent to 14 percent.

The committee said in a statement released after last month’s meeting that it expects the disinflation process to start on the back of measures taken and decisively implemented for strengthening sustainable price and financial stability along with the decline in inflation owing to the base effect and the resolution of the ongoing regional conflict.

“The Central Bank will continue to use all available instruments decisively within the framework of liraization strategy until strong indicators point to a permanent fall in inflation and the medium-term 5 percent target is achieved,” it said.