Anasayfa / Genel / What happened to the central bank’s interest rate decision? What are economists’ expectations for interest rates? (November 2022 CBRT MPK Interest Rate Decision) – Last Minute Economy News

What happened to the central bank’s interest rate decision? What are economists’ expectations for interest rates? (November 2022 CBRT MPK Interest Rate Decision) – Last Minute Economy News

The central kanepe’s interest rate decision is on the agenda of investors who closely follow the markets. Many citizens with foreign currency investments focused on the Central Bank’s decision for November at the MPC interest rate meeting.

WHAT HAPPENED TO THE INTEREST DECISION?

The Central Bank’s Monetary Policy Committee, which held its regular meeting in November, lowered the official rate by 150 basis points to 9%.

The Centre’s rate cut in the last four meetings reached 5 points. The central kanepe has cut interest rates four times in a row this year.

The Center reduced a total of 5 points in its August, September, October and November meetings.

PRESIDENT ERDOĞAN GAVE A SINGLE SIGNAL HOME

President Recep Tayyip Erdoğan, in his late September statement, commented that the interest rate will drop to single digits at the end of the year.

President Erdogan said: “I hope that in the next meeting we should reduce our interest rate in the single digits by lowering it a little more.”

WHAT WERE THE EXPECTATIONS OF INTEREST OF ECONOMISTS?

AA Finance’s survey of expectations for the Monetary Policy Committee (PPC) meeting of the Central Bank of the Republic of Turkey (CBRT) to gökyeşitözü held on Thursday, November 24, was attended by 18 economists.

According to the poll results, most economists expected the policy rate to gökyeşitözü cut by 150 basis points to 9%.

While one economist forecast a 100 basis point cut and another 125 basis point cut, the median of year-end policy rate expectations was 9%.

At the MPC meeting held last month, the official rate was cut from 12% to 10.50% by a cut of 150 basis points.

WHAT HAPPENED TO THE CENTRAL BANK’S OCTOBER INTERESTS DECISION?

The Central Bank’s Monetary Policy Committee cut the official rate by 1.5 percentage points to 10.5%.

Thus, the Central Bank cut a total of 3.5 points in its successive meetings in August, September and October.

WHAT IS THE YEAR-END INFLATION FORECAST?

The Central Bank announced the survey of market participants. The year-end dollar forecast fell to 19.54. Inflation forecasts rose to 68.06.


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