From BigGo Finance · BigGo Finance · · 1m 10s
Turkey's Central Bank Cuts Rates After Pause
Turkey's central bank cuts policy rate to 36% after five meetings of pause.
In brief
Turkey's central bank cuts policy rate to 36% after five meetings of pause. Turkey's Central Bank cut its main policy rate by 100 basis points to 36% after holding rates steady for five meetings to assess US-Iran conflict impacts. Originally reported by BigGo Finance.
Central Bank of Republic of Turkey
The Central Bank of the Republic of Turkey decided at its October 22 meeting to cut its main policy rate by 100 basis points to 36.0%.
Policy Rate Cut After Pause
The cut is the first since January of this year, after the bank held rates steady for five consecutive meetings to assess the impact of the US-Iran conflict.
September CPI Data
September's Consumer Price Index rose 29.73% year-on-year, slowing for a fourth straight month.
Inflation Outlook
The central bank signaled it would shift to tightening if conditions deteriorate, citing rising energy prices as an upside risk.
Market Expectations
Another 100bp cut is expected at the December meeting, with the policy rate projected to fall to 28% by end of 2027.
The essence
Turkey's Central Bank cut its main policy rate by 100 basis points to 36% after holding rates steady for five meetings to assess US-Iran conflict impacts.
