The Central Bank of the Republic of Turkey (CBRT) announced its May interest rate decision. Accordingly, the decision came in line with expectations and the policy rate was kept constant at 14%.
The survey conducted by Bloomberg HT Research One and attended by 18 institutions indicated that the interest rate would be kept constant at 14%. In addition, 14 institutions stated that there would be no change in interest rates until the end of the year.
As it is known, the CBRT lowered the interest rate by 500 basis points to 14% at the end of last year, and after the move, a sharp upward movement was observed in the dollar. Similarly, the dollar has been moving again in the last days and has risen to 16.45.
