TCMB announced its interest rate decision for October 2024.
The CBRT Monetary Policy Committee left interest rates unchanged at 50% in October. The expectation was that the policy rate would remain unchanged at 50% in October.
Related News: <a href="https://en.bitcoinsistemi.com/breaking-tcmb-announced-september-interest-rate-decision/" target="_blank" rel="noopener noreferrer nofollow">BREAKING! TCMB Announced September Interest Rate Decision!</a>
<h2 id="what-was-the-dollar-s-reaction-to-the-interest-rate-decision">What Was the Dollar's Reaction to the Interest Rate Decision?</h2>
After the CBRT decision, the dollar is traded at 34.17 TL.
<h2 id="the-cbrt-s-statement-regarding-the-latest-interest-rate-decision-is-as-follows">The CBRT's statement regarding the latest interest rate decision is as follows:</h2>
“The Monetary Policy Committee (the Committee) decided to keep the one-week repo auction interest rate, which is the policy rate, constant at 50 percent.
The underlying trend in inflation increased slightly in September. Indicators for the third quarter imply that domestic demand continues to slow down, approaching levels that support the decline in inflation. While core goods inflation remains low, improvement in services inflation is expected to occur in the last quarter. Uncertainty about the pace of improvement in inflation has increased with the recent data flow. The Committee noted that inflation expectations and pricing behavior continue to pose risks to the disinflation process.
The determined stance in monetary policy will reduce the underlying trend of monthly inflation and strengthen the disinflation process through balancing domestic demand, real appreciation of the Turkish lira and improvement in inflation expectations. The Committee decided to keep the policy rate constant, but reiterated its cautious stance against upward risks to inflation. The tight monetary policy stance will be maintained until a significant and permanent decrease is achieved in the underlying trend of monthly inflation and inflation expectations converge to the forecast range. In the event of a significant and permanent deterioration in inflation, monetary policy tools will be used effectively.
In case of unforeseen developments in credit and deposit markets, the monetary transmission mechanism will be supported with additional macroprudential steps. Liquidity conditions are closely monitored considering possible developments. Sterilization tools will continue to be used effectively.
The Committee will determine policy decisions in a way that will reduce the underlying trend of inflation and provide monetary and financial conditions that will bring inflation to the 5 percent target in the medium term, taking into account the lagged effects of monetary tightening.
Inflation and indicators of its main trend will be closely monitored, and the Board will resolutely use all tools at its disposal in line with the primary objective of price stability.
The Board will make its decisions within a predictable, data-driven and transparent framework.
The Monetary Policy Committee Meeting Summary will be published within five working days.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/breaking-tcmb-announced-its-interest-rate-decision-for-october/" rel="noopener noreferrer nofollow">BREAKING! TCMB Announced Its Interest Rate Decision for October!</a>

BREAKING! TCMB Announced Its Interest Rate Decision for October!

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