Will Turkey slash interest rates again?
Turkey’s rate-cutting streak is set to continue when policymakers meet on Thursday, as its president calls for its key interest rate to fall to single digits this year, even as inflation accelerates past 85 per cent.
The monetary policy committee has slashed the benchmark rate by a cumulative 3.5 percentage points since August to 10.5 per cent. It is expected to cut the rates by another 1.5 percentage points, according to Reuters poll.
Sahap Kavcıoğlu, the central bank governor, has acknowledged his lack of success in slowing inflation, but said last month he expects price growth to peak this autumn after hitting its highest level in a quarter of a century.
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