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The effects of the Corona virus are felt throughout the world as it is in Turkey’s economy. A lot of the way to ease the central bank to provide the spot market, the outbreak of the second MPC meet with the Central Bank of the Republic of Turkey in the crown process will do this week.
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MEET 2 DAYS EARLY IN MARCH
The Monetary Policy Board, which will meet on Thursday, March 19 of last month, met on Tuesday, March 17, two days before, to evaluate the possible effects of the corona virus. The center reduced the policy rate by 100 basis points to 9.75. Therefore, the policy rate fell to a single household 2 years later.
THREE TIMES OF INTEREST IN 2020
The Central Bank has reduced interest rates three times in 2020. The Bank reduced its policy rate from 12% to 11.25% at its meeting on January 16, from 11.25% to 10.75 at its meeting on February 18, and from 10.75% to 9.75 at the meeting on March 17.
UYSAL DOWNLOAD 1,425 BASE POINTS
During the Murat Uysal period, which was dismissed by the presidential decree in July 2019, during the Murat Uysal period, the policy rate fell by 24.25 percent, from 9.00 percent to 9.75 percent .
ECONOMISTS ARE DISCOUNTS
Aiming to reduce the effects of the corona virus pandemic, which caused economic activity to slow down over the past month, the Central Bank is expected to cut policy rates by 50 basis points in April.
In the Reuters poll with estimates from 18 institutions, the average expectation is 50 basis points, while the estimates range from keeping the policy rate constant up to 100 basis points. There is no increase in the interest rate between the estimates.
CBRT, the results of the PPK meeting will be announced at 2:00 pm on April 22. In addition to the interest rate decision, it will be closely monitored whether the bank will further increase its expansionary steps.
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