Interest Rate Cuts Still Distant in Turkey - Capital Economics

Foreks - Capital Economics' Nicholas Farr noted that after the Central Bank of the Republic of Turkey held the benchmark interest rate steady, it is still a long way off for interest rates in Turkey to be reduced. Farr indicates that the bank continues to be cautious and points to comments suggesting that the policy will remain restrictive until more signs of a decline in inflation are observed. According to Farr, this suggests that rate-setters may not start reducing borrowing costs until at least the end of the first quarter of 2025.