The CBRT will announce its interest rate decision on April 27.

The Central Bank of the Republic of Turkey (CBRT) Monetary Policy Committee will meet on Thursday, April 27, under the chairmanship of Central Bank Governor Şahap Kavcıoğlu. The interest rate decision will be announced on the same day.

The Central Bank of the Republic of Turkey, which cut the interest rate by 50 basis points last month “to support the recovery after the earthquake”, kept the one-week repo rate constant at 8.50 percent at the March meeting.

“Favorable financial conditions will be prioritized”

The CBRT, which is of the opinion that the monetary policy stance is sufficient to support the necessary recovery after the earthquake by preserving price stability and financial stability, announced that the effects of the earthquake in the first half of 2023 would be closely monitored.

In the statement of the Monetary Policy Committee regarding the decision, it was stated that “The Committee will prioritize the creation of appropriate financial conditions in order to minimize the effects of the disaster and support the necessary transformation”.

Regarding the impact of the earthquake on the economy in the text of the decision, evaluations were made: “Supportive financial conditions have become even more important after the earthquake in terms of maintaining the acceleration in industrial production and the increasing trend in employment.”