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%.
26 Mayıs 2022 Tarihli PPK Kararı: 1 hafta vadeli repo ihale faiz oranı sabit tutuldu. pic.twitter.com/PeNWZCt1bF
— Merkez Bankası (@Merkez_Bankasi) May 26, 2022
The survey conducted by Bloomberg HT Research One and attended by 18 institutions pointed out 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, at the end of last year, the CBRT gradually reduced the interest rate by 500 basis points to 14%, and after the move, a sharp upward movement was observed in the dollar. Similarly, the dollar has been active again in the last days and has risen to 16.45.
The dollar is at 16.41 at the time of publication.
