The CBRT will announce its interest rate decision at 14:00. While the expectations are for the rate to remain constant, the forecasts announced by foreign institutions are that the policy rate will decrease by 50 basis points.
The CBRT, which had previously continued to cut interest rates within the framework of its growth-oriented strategy, reduced the policy rate from 50% to 9% with a 8,50 basis points decrease in order to support the financial conditions with the disaster of the century in Kahramanmaraş-centered earthquake in the last month's decision. While the rate of interest seems to be more likely to remain stable this month due to the strong recent industrial production, a 50 basis point interest rate cut this month will not be a surprise in order to support the growth and the earthquake effect in the forward-looking projections.
In the text of the resolution to be announced today, we expect the global banking crisis and liraization strategy to come to the fore. In a possible interest rate cut, it can be expected that the volatility on the banking side will increase.