The Central Bank of the Republic of Turkey (CBRT) Monetary Policy Committee meeting in November was chaired by Şahap Kavcıoğlu. At the meeting, it was decided to reduce the policy rate by 100 basis points (15%).
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The sharp rises in exchange rates and gold turned the eyes to the Central Bank’s interest rate decision. As we mentioned earlier, the Central Bank reduced the interest rate from 18% to 16% last month. After the news, sharp increases were seen in exchange rates and gold, and the dollar climbed to the level of 10. 91 dollars.
According to the expectations survey conducted by AA Finans, the median response of 21 economists regarding the decision was 100 basis points.
