Turquía Tasa De Interés

The central bank of Turkey left its key one-week repo auction rate steady at 50% on April 25th 2024, in line with market expectations, following an unexpected 500bps hike in March, and considering the lagged effects of the monetary tightening. Policymakers added that the tight monetary stance will be maintained until a significant and sustained decline in the underlying trend of monthly inflation is observed, and inflation expectations converge to the projected forecast range. However, interest rates will be increased in case a significant and persistent deterioration in inflation is foreseen. Inflation rate in Turkey accelerated to 68.50% in March, the highest since November 2022, from 67.07% in February. The central bank's survey of market participants showed expectations for end-year inflation were around 44% in April, compared to the central bank's forecast of 36%.