Turkey: Foreign economists expect cut in interest rates

ANKARA

Foreign economists on Wednesday projected the Turkish Central Bank would end the year with 150 -200 basis points cut in its main policy rate.

The Monetary Policy Committee (MPC) will hold a meeting on Thursday for the eighth and last time this year to determine the bank’s decision on interest rates.

“We expect a 200 basis points (bsp) reduction in the repo rate to 12% at Thursday’s meeting,” said Nigel Rendell, the director of Medley Global Advisors, adding there might be a scope of rate cut beyond 12% in the opening half of next year.

Piotr Matys, a strategist

Read more: Turkey: Foreign economists expect cut in interest rates