The eyes are on the interest rate decision of the Central Bank of Turkey

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The Monetary Policy Committee of the Central Bank of Turkey announces its decision on the interest rate tomorrow.

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The bank had cut the interest rate from 19 percent to 18 percent at the previous meeting.

The Monetary Policy Committee of the Central Bank of the Republic of Turkey will meet tomorrow, headed by Central Bank Governor Shahip Kavcioglu.

Most economists who participated in the CBRT Monetary Policy Committee’s expectations survey expect that the one-week repo rate (the policy rate) will be lowered.

The average forecast by economists for a change in interest rate was 50 basis points lower.

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At the September Monetary Policy Committee’s meeting, the policy rate was lowered from 19 percent to 18 percent.

The median forecast by economists for the end-of-year interest rate was 17 percent, down 100 basis points from the previous survey period.