Central Bank Announces Interest Rate Decision in Breaking News

The Central Bank of the Republic of Türkiye Raises Interest Rates to 45 Percent

The Central Bank of the Republic of Türkiye (CBRT) has announced an increase in the weekly benchmark repo rate from 42.50 percent to 45.00 percent. This decision was made at the CBRT Monetary Policy Committee (PPK) meeting.

The CBRT has stated that this increase in interest rates is necessary to establish disinflation and that the level of monetary tightness required has been reached. It will be maintained for as long as necessary. The central bank also confirmed that the next meeting will be held on February 22.

The CBRT’s statement indicated that recent indicators show a balancing of domestic demand and a reflection of monetary tightening on financial conditions, which is consistent with the anticipated disinflation process. However, the Board evaluated that there has been limited improvement in inflation expectations and pricing behavior.

The Board will continue to make decisions in a predictable, data-driven, and transparent framework, closely monitoring indicators regarding inflation and its main trend. The Summary of the Monetary Policy Committee Meeting will be published within five business days.

It is clear that the CBRT is committed to supporting the monetary tightening process and will continue to use all the tools at its disposal to achieve the main goal of price stability.

 

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