Economists expect no change in interest rates

The Central Bank of Turkey (CBRT) is expected to keep interest rates steady this week, according to an Anadolu Agency survey Monday.

The Monetary Policy Committee (MPC) meeting will be held tomorrow for the fourth time in 2019 to announce the bank's decision about interest rates.

Among 20 economists surveyed by Anadolu Agency, four expect a decline in interest rates, varying between 0.50 percentage points and 1.50 percentage points.

In April, the CBRT kept its one-week repo rate - also known as the bank's policy rate - constant at 24 percent.

Including tomorrow's meeting, the bank will hold five more MPC meetings this year. In 2018, the CBRT held nine MPC meetings, as interest rates climbed from 8 percent to 24 percent over the course of the year.