[Regnum] At the meeting, the Central Bank of Turkey kept the key rate at 50% ! per annum.
| Time to round up more Gulenists to replenish the treasury at 0% interest. |
The Turkish Central Bank left the rate unchanged for the third meeting in a row. The last time it was changed was in March, immediately increasing it by 500 basis points.
It is noted that tight monetary policy will be maintained until there is a significant and sustainable decline in monthly inflation and inflation expectations reach the required range.
The regulator expects prices to fall in the second half of the year.
As Regnum reported, on March 21, the Central Bank of Turkey raised the interest rate from 45% to 50%. The regulator explained that the monthly inflation trend was higher than expected. He cited inflation in the service sector as the reason, while domestic demand remained stable.
This interest rate was a record since 2003. The Turkish Central Bank raised the key rate to 45% on January 25. Analysts did not predict a new increase. The previous increase took place on December 21, 2023 - up to 42.5%.