The eyes of the economy will be on the Central Bank this week, as it affects investment products such as exchange rates and gold prices. The Monetary Policy Committee, which will convene to determine the interest rate decision in March, will announce the decision taken. So, what time will the meeting be?
WHEN AND WHAT TIME WILL THE CENTRAL BANK MARCH 2022 INTEREST DECISION BE ANNOUNCED?
The meeting for the third interest rate decision of 2022 will take place on Thursday, March 17, 2022. At 14.00, the CBRT will announce its decision for March.
WHAT HAPPENED TO THE INTEREST DECISIONS THIS YEAR?
In 2021, the interest rate was kept constant at 17 percent in January and February, and it was increased by 200 basis points to 19 percent in March. In the meetings in April, May, June, July and August, no new decision was taken and the interest rates were kept constant at 19 percent.
In September, interest rates were cut from 19% to 18%. In October, the policy rate was cut by 200 basis points from 18 percent to 16 percent. Continuing its rate cut in November, the CBRT cut by 100 basis points and lowered the interest rates to 15 percent.
Finally, with the 100 basis points cut in interest rates in December, interest rates were reduced to 14 percent.
It was decided to keep it constant in January and February 2022 and the interest rates were kept constant at 14 percent.