Central Bank of Turkey's Message on Inflation After Interest Rate Cut: Increase May Accelerate in October.
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The Central Bank of the Republic of Turkey signaled that it will maintain its tight monetary policy stance following the interest rate cut. While noting the weakening of domestic demand, the Central Bank stated that new tightening measures could be considered in response to a possible deterioration in the inflation outlook.
The summary of the Central Bank of Turkey's (TCMB) October Monetary Policy Committee meeting recalled that the policy interest rate was lowered from 37% to 36%. The summary also stated that despite continued price increases in white goods and consumer electronics in October, core goods inflation was expected to maintain its moderate trajectory.
The summaries of the Turkish Central Bank's October meeting, where interest rates were cut, have been published.
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