News
Economy
Central Bank of Türkiye raises policy rate to 15% with 650 basis point increase
Central Bank of Türkiye raises policy rate to 15% with 650 basis point increase
The Monetary Policy Committee of the Central Bank of the Republic of Turkey made the decision to raise the policy rate by 650 basis points, setting it at 15 per cent. Chaired by Central Bank Governor Hafize Gaye Erkan, the committee convened and reached this decision during their meeting.
Published June 22,2023
Subscribe
In a recent meeting chaired by Central Bank Governor Hafize Gaye Erkan, the Monetary Policy Committee of the Central Bank of the Republic of Türkiye (CBRT) announced an increase in the policy rate.
The one-week repo auction rate, which serves as the policy rate, has been raised to 15 per cent, marking a significant increase of 650 basis points.
This decision was closely watched by the markets, and the committee deemed it necessary to take this step.
