Turkey's Central Bank Monetary Policy Committee to convene today

Turkey's Central Bank Monetary Policy Committee to convene today

The Monetary Policy Committee (MPC) meeting will be held on Thursday as the markets do not expect the committee to hike interest rates.

Turkey's Central Bank Monetary Policy Committee will announce its interest rate decision at 2:00 p.m.

The bank, which was raised the one-week repo rate — the rate by which it lends to commercial banks — by 200 basis points to 17 percent last month, is not expected to change interest rates.

The Monetary Policy Committee (MPC) is the decision-making body for monetary policy under the inflation targeting regime.

The MPC is made up of the Governor, Deputy Governors, a member appointed from among the members of the Board and another member appointed by a joint decree upon recommendation of the Governor.

The Undersecretary of Treasury or a Deputy Undersecretary authorized by the Undersecretary can attend the meetings without voting capacity. 

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