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Turkey Central Bank Key Rate Cut by June 2025?
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Turkey's central bank official announcements and financial news outlets
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Turkey's Central Bank Cuts Key Rate by 250 Basis Points to 47.5%, First Cut Since February 2023 as Inflation Eases to 47.09%
Dec 26, 2024, 11:01 AM
Turkey's central bank has cut its key policy rate by 250 basis points to 47.5%, marking its first reduction in nearly two years. This decision comes as inflation shows signs of easing, with the latest figures indicating an inflation rate of 47.09%. Major banks had been divided on the anticipated size of the cut, with predictions ranging from 150 to 250 basis points. The rate cut aligns with market expectations, reflecting a 'flat' underlying trend of inflation observed in November. The last rate adjustment prior to this was in February 2023, when the rate was held steady at 50%. The central bank's decision is seen as a response to the changing economic landscape and aims to stimulate growth following a prolonged period of high rates.
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