Central Bank lowered policy rate to 36 percent

The Central Bank's Monetary Policy Committee, meeting under the chairmanship of Yaşar Fatih Karahan, decided to lower the policy rate from 37 percent to 36 percent.

According to the statement made by the Central Bank, during the committee meeting attended by Yaşar Fatih Karahan, Hatice Karahan, Fatma Özkul, Gazi İshak Kara, Yusuf Emre Akgündüz, and Elif Haykır Hobikoğlu, the one-week repo auction interest rate was lowered from 37 percent to 36 percent. The committee also reduced the overnight lending interest rate from 40 percent to 39 percent, and the borrowing interest rate from 35.5 percent to 34.5 percent.

The statement noted that recent inflation realizations confirm the decline in the main trend and that the weak course in domestic demand continues. However, emphasizing that high energy prices due to geopolitical tensions continue to pose upside risks, it was reported that the tight monetary policy stance will be maintained until price stability is achieved and the Monetary Policy Committee Meeting Summary will be published within five business days.