ISTANBUL

The Central Bank of the Republic of Türkiye is expected to hike its policy rate by 500 basis points to 35% next week.

According to Anadolu's survey of 19 economists, the bank's monetary policy meeting on Oct. 26 is expected to raise interest rates by 250 to 500 basis points.

The economists' year-end policy rate forecast was 40%.

Last month, the bank increased the interest rate by 500 basis points to 30%.

*Writing by Gokhan Ergocun