The Central Bank’s Monetary Policy Committee (MPC) is scheduled to meet on July 23 to decide on the key policy rate, with most analysts expecting the bank to leave the rate unchanged at 37 percent.
The bank kept its policy rate — the one-week repo auction rate — unchanged at 37 percent at its June meeting, marking the third consecutive MPC meeting with no change.
The most recent rate cut was delivered in January, when the policy rate was lowered from 38 percent to 37 percent. Some analysts expect the bank to reduce the rate to 36 percent at the MPC meeting scheduled for Sept. 10.
In June, the Central Bank also left the overnight lending rate and overnight borrowing rate unchanged at 40 percent and 35.5 percent, respectively.
In the statement accompanying its latest rate decision, the bank said it remains attentive to upside risks to inflation.
It reiterated that the tight monetary policy stance will be maintained until price stability is achieved, adding that the policy stance will be tightened further if there is a significant and persistent deterioration in the inflation outlook.
Türkiye’s annual inflation rate eased from 32.61 percent in May to 32.11 percent in June, while consumer prices increased 0.99 percent month-on-month.
