Eyes on the Central Bank's interest rate decision! Economists reached a consensus on the same prediction.

The Central Bank of the Republic of Turkey (CBRT) will announce its interest rate decision today, and all eyes in the markets are on this meeting. The Monetary Policy Committee (MPC) meeting, led by President Fatih Karahan, will determine the future of the policy rate, starting at 14:00. The bank has kept the policy rate at 50% for the past five months.

INTEREST RATE CUTS MAY BEGIN IN OCTOBER

Economists do not expect any changes in the interest rate decision at this meeting. Most economists participating in the Reuters survey predict that the CBRT will keep interest rates unchanged until November. However, some economists believe that interest rate cuts may begin in October.

HIGHEST EXPECTATION IS 50%

Market participants participating in Bloomberg HT's survey also expect the CBRT to keep the interest rate at 50%. The policy rate forecasts for the end of 2024 in the survey of 24 institutions indicate a level of 47.5%. The highest expectation was recorded as 50%, and the lowest expectation was 45%. This decision will play a critical role in terms of developments in the economy and is closely monitored in the markets.