Türkiye’s Central Bank may increase rate to 30%

Experts predict that next week the Turkish Central Bank may significantly increase the key rate again - up to 30 per cent from the current 25 per cent.

The decision on the rate will be made on September 21 at a meeting of the Monetary Policy Committee, the Turkish economic publication TRT Haber.

According to experts, the regulator will raise the rate to at least 27.5 per cent, and more likely - immediately to 30 per cent.

The projected decision is due to the adoption of a new medium-term economic development programme in Türkiye, which implies a tight monetary policy to reduce inflation.