Geldpolitik: Türkische Zentralbank senkt Leitzins nach längerer Pause
Zuvor hatte die Notenbank den Zinssatz bei den fünf vorangegangenen Sitzungen unverändert belassen. Die Inflationsrate verharrt unterdessen auf hohem Niveau.
In Istanbul, the Turkish Central Bank has lowered its key interest rate after a multi-month pause, reinitiating its easing policy. The central rate for banks' supply of money was decreased from 37 to 36 percent on Thursday. This move was anticipated by most analysts. The Turkish lira showed little movement following the interest rate decision, trading at 49.63 to the dollar.
Previously, the bank had kept the interest rate unchanged over the previous five meetings. The aim was to wait out the inflationary consequences of the Iran war that has been ongoing since the end of February. However, the impact of the rising energy prices on Turkey's import-dependent economy appeared to be less severe than expected.
The inflation rate stood at 29.73 percent in September. Economists surveyed by news agency Reuters expect another rate cut to 35 percent at the next meeting in December. According to their forecast, the easing cycle could continue until 2027, with the key interest rate falling to 28 percent by the end of next year. The bank's decision also comes amid a crisis in the Turkish investment fund sector last month.
Authorities had ordered the liquidation of 131 funds, prompting the central bank to intervene with liquidity support.
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