Central Bank of Turkey Republic ( CBT), which is the second interest decision of the year, February 2023 policyinterest rate It dropped 50 basis points.
22 December 2022decision on the policy interest rate CBT, as expected percentageIt held steady at 9 percent. CBT, Fireplacepolicy interest rate for the month 9 percent level remained constant. The CBRT, which remained stable in the last two months’ interest rate decisions, decreased the interest rate to 8.5 percent in the February policy rate decision, which was the second interest rate decision of the year. Thus, the CBRT February 2023 policy rate fell by 50 basis points.
CBRT Decreases February Policy Rate by 50 basis points
Central Bank of Turkey Republic ( CBT), 2023February rate decision percentage He announced that he had lowered it to 8.5. Monetary Policy Committee ( PPK), the one-week repo auction rate, which is the policy rate, at the level of 8.5 percent decided to determine. The CBRT, which made a rate cut, made a 50 basis point rate cut.
The CBRT announced its interest rate decision as 8.5 percent in an environment where the expectations were 8.5 percent. In addition, the CBRT mentioned the following in its report;
Although the recently announced data on economic activity has been at more positive levels than expected, recession concerns continue in developed countries’ economies due to the impact of geopolitical risks and interest rate hikes. Despite the negative effects of supply constraints in some sectors, especially in basic food, thanks to the strategic solution tools developed by Turkey, producer and consumer inflation on an international scale continues to be high. The effects of high global inflation on inflation expectations and international financial markets are closely monitored. Depending on the economic outlook that differs between countries, the divergence in the monetary policy steps and communications of the central banks of developed countries continues. It is observed that efforts to find solutions with new supportive practices and tools developed by central banks for increasing uncertainties in financial markets continue. In addition, financial markets reflect the expectations that central banks, which raise interest rates against recession risks, will soon end their interest rate hike cycles.
The Board stated that it will continue to take its decisions in a transparent, predictable and data-oriented framework.
