Economy

Turkish market focuses on Central Bank's interest rate decision

Economists expect decline of 50 basis points from Central Bank

Gokhan Ergocun   | 21.10.2021
Turkish market focuses on Central Bank's interest rate decision

ISTANBUL

Turkey's domestic markets on Thursday focused on the Central Bank's interest rate decision at its 10th Monetary Policy Committee meeting this year.

Last week, among 26 economists surveyed by Anadolu Agency, six expected no change, while eight predicted the rate to fall by 50 basis points, one by 75 basis points, and 11 by 100 basis points, with the median being 50 basis points.

The Turkish Statistical Institute is also set to release the consumer confidence index Thursday.

On the global scale, while the European side will be quiet, investors will follow the US figures, including initial jobless claims and Philadelphia Fed Manufacturing Business Outlook Survey.

On Wednesday, stock exchange markets in Asia, Europe, and the US were in increasing trends, while 10-year bond yields saw the record level with 1.67% in the US and the gold reached the $1,785 level.

The price of Bitcoin also hit a new all-time high of $67,000 on Wednesday, fueled by its first-ever exchange-traded fund on the New York Stock Exchange.

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