Central Bank interest rate decision announced

The Central Bank's (CBRT) Monetary Policy Committee (PPC) cut its policy rate by another 50 basis points at today's meeting.

The bank lowered its policy interest rate to 8.5 percent.

The TURKSTAT announced the monthly inflation rate for January 2023 as 6.65 percent and the annual inflation rate as 57.68 percent.

“The Board considers that this measured monetary policy stance after the discount is sufficient to support the necessary recovery after the earthquake by maintaining price stability and financial stability,” the Central Bank said in a statement.