CBRT Will Announce Its Interest Rate Decision On Thursday

CBRT will announce its interest rate decision on Thursday. The Monetary Policy Committee (MPC) will meet on Thursday.

The Monetary Policy Committee of the Central Bank of the Republic of Turkey will meet on Thursday under the chairmanship of Central Bank Governor Şahap Kavcıoğlu. The Central Bank will announce the fourth interest rate decision of the year, which the markets are eagerly awaiting. In the previous meeting, the bank increased its policy rate by 200 basis points from 17 percent to 19 percent and applied an increase above the expectations.

Domestic Markets Await An Intensive Week

Inflation and the CBRT Expectations Survey drew attention in the domestic data agenda this week. Accordingly, the Consumer Price Index (CPI) came in line with market expectations with an increase of 1.08 percent monthly and 16.19 percent annually in March. In the CBRT Monthly Price Developments Report released after this data, it was stated that the rise in inflation in March was due to energy, services and basic goods, and that food inflation slowed down compared to the previous month, led by the prices of fresh fruits and vegetables. In addition, according to the CBRT Expectations Survey, the CPI expectation for April, which was 1.12 percent last month, increased to 1.51 percent in this survey period. The current year-end CPI expectation was 13.12 percent. The 12-month CPI expectation rose from 10.47 percent to 11.26, and the 24-month CPI expectation rose from 9.18 percent to 9.55. Next week, the data on the balance of payments and unemployment rate on Monday, the industrial production index on Tuesday, the CBRT interest rate decision on Thursday and the Housing Price Index on Friday will be monitored carefully in the domestic markets.