The Central Bank of Turkey lowered interest rates today, Thursday, for the first time in eight months by 250 basis points, exceeding expectations of a 150-basis-point cut, bringing the rate down to 47.5%.
On Wednesday, the Central Bank announced that it would hold eight Monetary Policy Committee meetings in 2025, reducing the frequency from the current monthly schedule.
In its monetary policy report for the upcoming year, the bank confirmed that the one-week repo rate would remain the primary tool for implementing monetary policy. It also emphasized that policies will be aligned with the medium-term inflation target, set at 5%.
