Economists forecast Central Bank to cut interest rates

The Central Bank of the Republic of Turkey will convene on Wednesday to announce its decision on interest rates.

Several economists forecast that the monetary policy committee will cut interest rates ranging between 25 and 75 basis points.

Last month, the Central Bank decided to reduce the policy rate from 12 percent to 11.25 percent.

In 2019, the bank gradually cut the rate by 1,200 basis points from 24 percent to 12 percent.