Turkey Expected to Hike Interest Rates for Seventh Straight Time
- Central bank forecast to raise rates 250 basis points to 42.5%
- Country’s made major monetary turn since Erdogan’s reelection
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Turkey’s central bank is expected to hike interest rates for the seventh straight time on Thursday, as it nears the end of an aggressive tightening cycle to slow soaring inflation.
All but one of the 27 analysts surveyed by Bloomberg see the Monetary Policy Committee lifting the benchmark repo rate by 250 basis points to 42.5%. Standard Chartered Plc, the outlier, forecasts a bigger move of 500 basis points. If the consensus is correct, Turkey will have raised rates by 34 percentage points this year.